Shiba Inu News
- SHIB is once again the biggest holding among top ETH whales.
- Over 410 trillion SHIB have been burned from the total supply of the memecoin, which is nearly 589 trillion.
- What seems like an upcoming bullish breakthrough for SHIB is a retest of the triangle apex at $0.000001100.
According to data provided by WhaleStats, SHIB once again has the largest holding in terms of USD among the top 100 ETH whales. Per the statistics, the top 100 ETH whales are now sitting on Shiba Inu worth $544.4 million. This accounts for over 23 percent of the overall holdings.
At the time of writing, Shiba Inu can be purchased for an average of $0.000010 dollars. The price of SHIB has increased by 2% during the last 24 hours but has decreased by 7% over the course of the previous seven days. The second most valuable memecoin in the world now has a market capitalization of more than $6.4 billion.
This comes after the SHIB burn tracker, Shibburn, announced that a total of 140 million memecoins have been burned in the last twenty-four hours, which means they have been locked in wallets where they cannot be used.
The intention of the burning of coins is to increase the scarcity of SHIB, with the end objective of driving up the price of the cryptocurrency over the long term. According to the said website that tracks SHIB burns, as of now, a total of 410,373,679,618,602 SHIB had been burned from the available supply of SHIB.
The current Shiba Inu price is $0.00001098. According to the technicals, what seems to be an impending bullish breakout is a typical retest of the triangle apex at the $0.000001100 price level.