There is good news for Shiba Inu investors. A large number of Shiba Inu tokens have been burned in the last 24 hours. The tokens are locked in non-suspended wallets by the team of Shiba Inu. This information has been given on the burn tracking platform Shibburn. The number of tokens burned is very high. According to the report, about 500 million Shiba Inu tokens have been burnt. These are locked in wallets which have been shifted to dead end wallets
meanwhile, SHIB The purchase activities of whale accounts also intensified. Whales have purchased a large number of Shiba Inu tokens. With this, the price of this mime cryptocurrency will see an increase in the coming days. The hidden treasure of the Shiba Inu in whales has increased by about 25 percent.
In a tweet, burn tracking platform Shibburn informed that the team of Shiba Inu has burned 525,200,039 Shiba Inu tokens since yesterday morning. Let us tell you that in token burning, the cryptocurrency is removed from its circulating supply. This work can only be done by the development team of the token.
Token burning is done for many reasons. In most cases, burning is done to increase the value of the token. When tokens become less than the circulation supply, their demand starts increasing. This also increases the price of the token.
However, the report noted that the token’s burn rate declined by 26.99 percent despite the burning. The largest single transaction for this was done 22 hours ago for 93,303,458 Shiba Inu tokens. Whereas one transaction was done a few hours ago for 82,140,154 tokens. After this, a latest transaction of 37,536,632 tokens has been done today, i.e. sometime back on 25th May, which has been shifted to the dead wallet.
Along with the burning, there have also been reports of whales purchasing Shiba Inu tokens. Statistics from WhaleStats show that whales have deposited around 200 million Shiba Inu tokens into their accounts in the last 24 hours. While there were tokens of $588,788,065 in whales on May 23, the figure has now gone up to $833,034,530. Subsequently, the percentage of SHIB tokens in the portfolio of whales has increased from 12.16% to 15.86%. shiba inu price in india Talking about it, it is trading at Rs.0.000962. Its price has declined by 1.24 percent in the last 24 hours.