Ethereum whale tracking website WhaleStats reports that funds were transferred to a wallet that already holds more than $100 million in assets after SHIB bought 442.6 billion tokens for $11.9 million. As of last Friday, the wallet held approximately $47 million worth of SHIB cryptocurrency, according to a CryptoGlobe report, followed by SHIB in the highest number of crypto available in this wallet.
Reports suggest that after SHIB, this wallet contained Decentraland’s MANA, which was worth $21 million. This was followed by Fantom (FTM), The Sandbox’s SAND, and then Ethereum. This whale also reportedly owned dozens of altcoins, along with KNC, BAT, CHZ, ENJ, and SUSHI.
Data from WhaleStats shows that the top 100 largest ETH whales have increased their SHIB balances to 2.216 billion tokens in recent days, an increase of 259%.
The report says that whale transactions aimed at burning SHIB in various ways have been on the rise for some time now. Steven Cooper, CEO of cryptocurrency entertainment firm Bigger Entertainment. Tweet I clarified that the company wants to support the SHIB community to burn 10% of their SHIB.
The report further says that Bigger Entertainment is one of nine businesses that have commissioned SHIB to burn and use a portion of their profits to reduce the circulating supply of cryptocurrencies. Currently, only 59% of Shiba Inu’s initial supply is in circulation, while a total of 410.29 trillion SHIB has been burned since launch.<!–
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