The SHIB burn rate increases by 642% as millions of SHIBs are disposed of.

The popular Shibburn platform, which tracks SHIB burns, has reported that another large bundle of Shiba Inu meme coins have been removed from unusable wallets by various individuals and businesses.

Over the past day, SHIB’s burn rate has almost increased by 700% from the previous day.

The burn rate of SHIB increases by 642%.

Since last morning, the burn rate of the Shiba Inu meme has increased by over 642%, according to the Shibburn tracker website.

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With 28,191,662 SHIB burned in total, a massive 24,091,662 SHIB was moved to a dead-end wallet in one transfer. However, the equivalent of the overall amount that was burned is just over $233.

The number of SHIB holders continues to grow

According to data updated on WhaleStats, the popular big wallet tracking tool, the number of SHIB holders has increased by more than 1,000 in the past 24 hours.

Now, that number constitutes 1,271,030 versus about 1,270,000 on Friday.

WhaleStats data also shows that over the past 24 hours, the Shiba Inu meme coin has dropped out of the top ten list of assets held by Ethereum whales. The top five assets held by the top 100 wallets on Ethereum are currently ETH, DAI, LINK, aWETH and CHAIN.

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LINK, the native Chainlink token, hasn’t been seen in the top ten list for quite some time now.

Image via WhaleStats

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