Data provided by the Shibburn tracking platform shows that within the past week, the SHIB army’s relentless efforts have helped to dispose of over 400 million Shiba Inu meme coins.
According to the same data source, almost all of those hundred millions of SHIB were destroyed in a single move by a mysterious meme cryptocurrency whale.
SHIB army burns 411.8 million coins
Shibburn has revealed that in total a staggering 411,867,374 SHIB were transferred to unspendable blockchain addresses. Still, despite the massive amount, the weekly burn rate was almost 50% down overall, according to the tweet published earlier today.
The list of burn transactions revealed that nearly all of those 411.8 million Shiba Inu were destroyed in a single transfer, which carried 372,663,448 SHIB. This transaction was made a whale that had just awakened after a dormancy lasting more than a year.
As for the daily SHIB burns, the last 24 hours have not been very productive. Merely 76,348 SHIB were set on fire with the burn rate 97.77% down.
HOURLY SHIB UPDATE$SHIB Price: $0.00002678 (1hr 1.25% ▲ | 24hr -1.23% ▼ )
Market Cap: $15,791,847,044 (-0.97% ▼)
Total Supply: 589,273,991,111,768TOKENS BURNT
Past 24Hrs: 76,348 (-97.77% ▼)
Past 7 Days: 411,867,374 (-48.14% ▼)— Shibburn (@shibburn) April 23, 2024
Still the community has not only been burning SHIB. On Monday, a new whale acquired a massive 237,868,630,126 SHIB.
Shytoshi Kusama raises $12 million for L3 network
As reported earlier, the SHIB team has managed to raise $12 million from various investors to build a Layer-3 blockchain on top of the Shibarium network.
In today’s tweet, the enigmatic SHIB lead Shytoshi Kusama shared that he had not just been travelling around various locations in different parts of the world this year – he had been travelling to pitch the SHIB’s proposal to investors.
The new Layer-3 network will be focused on security and privacy. However, it will be possible to reveal transactions to auditors as a commitment to collaborate with regulators. The new network will be powered by the long-promised TREAT token which has not been launched yet.
Giving an interview in Dubai recently, Kusama emphasized that the SHIB team is determined to finish what they have started and are not going to “go out and buy Lambos.” Apparently, this was a hint at the ill-famed FTX founder Sam Bankman-Fried who used millions of user funds for purchasing real estate and expensive cars for himself and FTX top management.
