{"id":232087,"date":"2022-04-14T06:00:19","date_gmt":"2022-04-14T05:00:19","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=232087"},"modified":"2022-04-14T01:06:12","modified_gmt":"2022-04-14T00:06:12","slug":"shiba-inu-supply-shrinking-as-2-41-billion-shib-got-burned","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/shiba-inu-supply-shrinking-as-2-41-billion-shib-got-burned\/","title":{"rendered":"Shiba Inu supply shrinking as 2.41 billion SHIB got burned"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The price of the Shiba Inu (SHIB) token went up approximately 20% since the end of last week. The reason behind the rally is twofold: one is that 2.41 billion Shiba Inu have been burned, e.i. sent to so-called inferno wallets in order to make the popular dog token more scarce and lift its price.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The burn was announced by the <\/span><a href=\"https:\/\/twitter.com\/shibburn\/status\/1514091013710790663\"><span style=\"font-weight: 400;\">@shibburn<\/span><\/a><span style=\"font-weight: 400;\"> Twitter account, and the burnings of SHIB tokens can be followed on the <\/span><a href=\"https:\/\/www.shibburn.com\/\"><span style=\"font-weight: 400;\">shibburn.com<\/span><\/a><span style=\"font-weight: 400;\"> website. According to the @shibburn tracking account, several massive amounts of Shiba Inu have been burned, adding up to a total of around 2.41 billion SHIB tokens.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In the past 24 hours, there have been a total of 324,040,132 <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&src=ctag&ref_src=twsrc%5Etfw\">$SHIB<\/a> tokens burned and 9 transactions. Visit <a href=\"https:\/\/t.co\/t0eRMnyZel\">https:\/\/t.co\/t0eRMnyZel<\/a> to view the overall total of <a href=\"https:\/\/twitter.com\/hashtag\/SHIB?src=hash&ref_src=twsrc%5Etfw\">#SHIB<\/a> tokens burned, circulating supply, and more. <a href=\"https:\/\/twitter.com\/hashtag\/shibarmy?src=hash&ref_src=twsrc%5Etfw\">#shibarmy<\/a><\/p>\n<p>&mdash; Shibburn (@shibburn) <a href=\"https:\/\/twitter.com\/shibburn\/status\/1514091013710790663?ref_src=twsrc%5Etfw\">April 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Whale makes huge purchase of SHIB<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The burning of SHIB tokens, which is not unusual per se, was done through a series of portions, among which the biggest one amounted to 1,351,643,000 tokens burned between April 8 and 9. Besides this bigger portion, other burns amounted to 442 million and another one burned slightly more than 258 million <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/shiba-inu\/\"><span style=\"font-weight: 400;\">SHIB<\/span><\/a><span style=\"font-weight: 400;\"> tokens. Also, a total of just more than 324 million have been burned in portions of nine transactions in the past 24 hours alone.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the large burn of SHIB tokens since the end of last week was not the only driver for the increase in the market value of the meme coin. According to the WhaleStast Twitter account, the second reason behind the increase in market value might be the fact that a large whale bought a staggering amount of 775,473,150,952 SHIB, equivalent to $20,697,378 at the time of the transaction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Whale, in ether (ETH) terms, and the owner of the wallet \u201cBlueWhale0073\u201d, is ranked number 12 by WhaleStats \u2013 a service that keeps track of the top 100 wallets on the Ethereum blockchain. Shiba Inu is an ERC-20 token on the Ethereum network.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc0b\ud83d\udc0b\ud83d\udc0b\ud83d\udc0b\ud83d\udc0b ETH whale &quot;BlueWhale0073&quot; just bought 775,473,150,952 <a href=\"https:\/\/twitter.com\/search?q=%24shib&src=ctag&ref_src=twsrc%5Etfw\">$shib<\/a> ($20,697,378 USD).<\/p>\n<p>Ranked #12 on WhaleStats: <a href=\"https:\/\/t.co\/RBupemZyZX\">https:\/\/t.co\/RBupemZyZX<\/a><\/p>\n<p>Transaction: <a href=\"https:\/\/t.co\/6w1imobFv5\">https:\/\/t.co\/6w1imobFv5<\/a><a href=\"https:\/\/twitter.com\/hashtag\/SHIB?src=hash&ref_src=twsrc%5Etfw\">#SHIB<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/ShibArmy?src=hash&ref_src=twsrc%5Etfw\">#ShibArmy<\/a><\/p>\n<p>&mdash; WhaleStats &#8211; BabyWhale ($BBW) (@WhaleStats) <a href=\"https:\/\/twitter.com\/WhaleStats\/status\/1514077478675009551?ref_src=twsrc%5Etfw\">April 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Robinhood adding support for SHIB<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Both the SHIB token burns and the large purchase by BlueWhale0073 coincide with the announcement that the popular investment- and trading app Robinhood is <\/span><a href=\"https:\/\/cryptoslate.com\/shiba-inu-shib-community-pushes-hard-for-robinhood-listing\/\"><span style=\"font-weight: 400;\">adding support<\/span><\/a><span style=\"font-weight: 400;\"> for SHIB, along with Solana (<\/span><a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\"><span style=\"font-weight: 400;\">SOL<\/span><\/a><span style=\"font-weight: 400;\">), Compound (<\/span><a href=\"https:\/\/cryptoslate.com\/coins\/compound\/\"><span style=\"font-weight: 400;\">COMP<\/span><\/a><span style=\"font-weight: 400;\">), and Polygon (<\/span><a href=\"https:\/\/cryptoslate.com\/coins\/polygon\/\"><span style=\"font-weight: 400;\">MATIC<\/span><\/a><span style=\"font-weight: 400;\">). Robinhood finally gave in after the so-called SHIB Army had been asking the trading app to list SHIB for several months.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All four tokens now added to <\/span><a href=\"https:\/\/cryptoslate.com\/products\/robinhood\/\"><span style=\"font-weight: 400;\">Robinhood<\/span><\/a><span style=\"font-weight: 400;\"> sawa rise in market prices following Robinhood\u2019s announcement, SHIB with as much as 20%. Since the crypto market, in general, has been on the gloomy side the past few days, market values of these tokens have fallen back to levels prior to Robinhood\u2019s announcement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, the SHIB token is valued at $0.00002664, down 3.4% over the past 24 hours.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of the Shiba Inu (SHIB) token went up approximately 20% since the end of last week. The reason behind the rally is twofold: one is that 2.41 billion Shiba Inu have been burned, e.i. sent to so-called inferno wallets in order to make the popular dog token more scarce and lift its price. [&hellip;]<\/p>\n","protected":false},"author":962,"featured_media":232093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,35372,77032,76736],"tags":[77341,76849,76818,77631,76670],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shiba Inu supply shrinking as 2.41 billion SHIB got burned<\/title>\n<meta name=\"description\" content=\"2.41 billion SHIB tokens were burned shrinking the total supply of the popular doggy meme token and making it more scarce. 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Meanwhile, a whale bought $20.7 million worth of SHIB.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/shiba-inu-supply-shrinking-as-2-41-billion-shib-got-burned\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-14T05:00:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-14T00:06:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/04\/shiba-inu-token.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laszlo Dobos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laszlo Dobos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/shiba-inu-supply-shrinking-as-2-41-billion-shib-got-burned\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/shiba-inu-supply-shrinking-as-2-41-billion-shib-got-burned\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#person\",\"name\":\"Laszlo Dobos\",\"url\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/laszlo-dobos\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/12\/lars-dobos-author-300x300.jpg\",\"caption\":\"Laszlo Dobos\"},\"jobTitle\":\"Reporter\",\"description\":\"Educated in computer engineering, Laszlo began developing an interest for crypto and blockchain technology back in 2013. 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