Shib’s consumption rate rises 153% and the price shows a modest increase

The prominent tracker of burn transactions applied to Shiba Inu tokens, @shibburn, has revealed that in the last 24 hours, the burn rate of SHIB has jumped substantially.

SHIB burn rate rises, price rises a bit.

According to data posted on the Shibburn website, the value of SHIB’s burn rate has jumped 153.18%, with a total of 3,362,763 meme coins worth $31 removed from circulation since yesterday morning.

This week did not see an extraordinary amount of SHIB tokens moved to dead-end wallets (from where no one can access them to spend). These were chunks of less than 10 million meme tokens. On December 7, SHIB’s burn rate even saw an 80% drop, as only about 1 million tokens were removed from circulation.

According to Shibburn, over the past week, he has seen just over 126 million stuck in wallets that cannot be used.

Total weekly consumption data is usually released on Sundays.

In the meantime, the price of this high-profile meme recorded a modest gain earlier in the day, as it managed to rise by 2.37%.. Now, a roughly equivalent decline has been seen on the SHIB/USD chart.

Here’s how much SHIB ETH the whales hold.

The number of SHIB holders now stands at 1,258,552, according to the WhaleStats tracking system of the largest wallets on Ethereum, BSC and several other chains.

As for the amount of SHIB held by the 100 largest wallets on Ethereum, it remains $71,378,787 in USD equivalent. This cryptocurrency stash is worth 7,713,405,151,552 Shiba Inu and constitutes 3.26% of the cryptocurrency portfolio of these whales. SHIB is in fourth place here after the stable currencies USDT and USDC, as well as after stETH.