The @shibburn tracker on Twitter has reported that nearly 112.5 million Shiba Inu tokens have been destroyed by various communities within the SHIB army since Wednesday.
In addition, a major SHIB burner has tweeted that nearly 435 million meme tokens have been burned so far this February.
Meanwhile, SHIB is slowly recovering from today’s decline, which followed a 17 percent surge on Friday.
As reported by Twitter account @shibburn, a total of 112.46 million SHIB have been destroyed since Wednesday. The tokens were moved to several dead addresses, which prevent anyone from withdrawing tokens from them as well as taking them back. Similar technology is used to “burn” other cryptocurrencies.
The largest single SHIB chunks burned included 44,444,444 SHIB, 10,000,000 SHIB, 25,500,000 and 11,111,111 SHIB tokens.
This SHIB burner destroys 433 million SHIB this month
The Twitter account @317_key, which represents Travis Johnson SHIB burn games and regularly makes Shiba Inu burns, has announced that in February it managed to destroy the second-largest meme token by market cap worth $10,770 – Shiba Inu.
This is equivalent to a value of 433,924,254.
The company buys SHIB with part of its revenue from ads placed in games on smartphones.
Later, the account posted an update stating that the final amount of SHIB burned so far in February totals 457,137,064 tokens – that’s worth $11,273.
Excellent work everybody, we have a couple days left to do some more damage and take advantage of these low prices!
— Accomplished_Key_317 (@317_key) February 26, 2022
Whales continue to stock up on SHIB
As covered by U.Today, two large Ethereum investors have acquired 105.7 billion Shiba Inu in total. They bought 49.9 billion and 55.8 billion SHIB, according to WhaleStats data platform.
Those are Ethereum whales ranked 11 and 1 by WhaleStats.