The latest report reveals that a prominent Shiba Inu whale has embarked on a buying spree. according to Etherscan data19yThe largest Shiba Inu whale bought 150,553,500,877 SHIBs, worth more than $1.55 million.
The data shows that whales have accumulated tokens in three transactions over the past 24 hours. This whale buildup occurred amid a huge token burning spree by the SHIB community.
Shiba Inu Pisces on the buying spree
In detail, a Shiba Inu whale started buying with a smaller amount of 16,099,042,840 billion SHIB tokens a few hours ago. In the second transaction minutes after the first transaction, they purchased 108,040,560,167 SHIB worth more than $1.112 million.
The whale went on to buy another 26,413,897,870 SHIB worth $272,063. This third transaction occurred about 9 hours later.
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the same 19yThe largest Shiba holder has collected more than 168.37 billion Shiba Inu tokens on April 25, according to Etherscan data. The whale started the buying process in two deals, one with a value of 9.81 billion chip and the other with a value of 158.55 billion, with a value of about $1.72 million.
The Shiba Inu Whale now holds 5,178,454,552,701 SHIB tokens, worth about $53.33 million.
The SHIB community burns over 2 million SHIBs in the last day
Meanwhile, the Shiba Inu community continues its burning spree, with over 2 million SHIB tokens sent to the dead wallet in the past 24 hours. About 12 hours before publication time, the Shiba Inu community has burned 1,000,000 SHIB tokens, according to Shepburn data. This move caused the Shiba Inu’s burn rate to rise by about 2,000%.
The community didn’t stop there as they moved forward to burn more. Three hours ago, Burn Address1 (BA-1) saw a huge spike of 1,467,306 million SHIB.
Notably, the recent rise in burn activity was to compensate for the decrease in burn rate that occurred the previous day. As of April 27, only 47,664 Shiba Inu tokens have entered the burning wallet, resulting in a 96% drop in burn rate from April 26 levels.
The reason for the backtracking was as a temporary distraction from the SHIB community incineration initiative as I focused on other upcoming projects. However, the recent increase in burn rate indicates that the community has once again stepped up its game.
But the recent spike in burn rate is nothing compared to what it was on April 14, when the Shiba Inu saw one of the highest token burns in the past few months. Koyo token burned 1.49M SHIB, which greatly increased burn rate.
To date, the community has burned 410.63 trillion grays. So the rest of the total meme coin supply is 589.366 trillion tokens, while the current circulating supply is 574.087 trillion.
However, the Shiba Inu price Bearish against the broader cryptocurrency market cap which has increased by 0.59% over the past 24 hours. At press time, SHIB is trading at $0.0000102, with a 24-hour price drop of 0.29%.
Featured image from Pixabay and chart from Tradingview