SPY389.46-2.40 -0.61%
DIA313.18-2.37 -0.75%
IXIC11,388.50-29.66 -0.26%

Shiba Inu Burn Portal Destroys 20 Billion SHIB In Less Than Week After Launch

Shiba Inu (CRYPTO: SHIB) launched its Burn Portal on April 23. Since that day, close to 20 billion SHIB worth over $455,000 has been destroyed. Those were added to the burn pool via 1555 transactions. 

Benzinga · 04/30/2022 16:35

Shiba Inu (CRYPTO: SHIB) launched its Burn Portal on April 23. Since that day, close to 20 billion SHIB worth over $455,000 has been destroyed. Those were added to the burn pool via 1555 transactions. 

Through the Burn portal, 1203 users have contributed, with each transaction averaging 12.8 million SHIB destroyed.

According to the report, the burn portal will reward SHIB burners with Ryoshi's Vision. 

By burning SHIB tokens, users permanently remove them from the circulating supply by transferring them to a burn address. 

Whales continue to accumulate SHIB, in recent transactions, two top Ethereum whales bought nearly 200 billion SHIB.

According to WhaleStats, the first SHIB purchase transaction was that of Ethereum whale "Bombur," who bought over 50 billion SHIB, worth over $1 million. 

Also Read: Shiba Inu Community to Get Ownership Stake In Fast-Food Joint Welly

Another transaction was done by ETH whale "BlueWhale0073," who bought 143 billion SHIB, over $3 million worth.