Shiba Inu shib/usd The past week has seen a 100% weekly burn, as investors seek to reduce the coin’s supply in order to prop up the price.
What happened: according to shibburn Twitter account, 223,264,370 SHIB tokens were burned and 51 transactions were made in the last seven days. Over 106.7 million SHIB tokens were burned and 29 transactions were done in the first week. The weekly figures almost double the number of tokens burned over the same period.
At the time of writing, SHIB is trading at 0.000008994, up 3.8% over the past seven days, according to CoinMarketCap.
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Data from LunarCrush shows that SHIB social engagement has increased by 8.95% in the past week, and the market cap has increased by 4% to $5.06 billion.
Meanwhile, WhaleStats data shows that Ethereum (crypto, ETH) The whale currently holds $66.5 million worth of SHIB, which is approximately 3.33% of his crypto holdings.
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