Amazon Played a Major Part in the $150 million Shiba Inu Burns and Whales Scoop Up
In July, the cryptocurrency markets made a sluggish return. Ethereum (ETH) jumped into the lead thanks to increases brought on by people’s increased anticipation of the merger. Bitcoin (BTC) did the same along with other significant crypto initiatives. Shiba Inu (SHIB), one of the most popular memecoins, also saw a little uptick.
The community was made aware of Amazon’s significant support to SHIB Burns through the Twitter account of Travis Johnson’s gaming store, SHIB Super Store. According to the tweet, Amazon contributes $5 to $50 or more every day in SHIB burning.
According to information from the SHIB mega shop, the store alone has burnt 2,615,765,687 SHIB. 2,588,178 SHIB burns were caused by the platform on August 2 alone. The contribution is important when taking the total burn rate into account. However, the burn rate is not in the best condition.
In the last 24 hours, there has been a tiny 14.04 percent burn rate, which has resulted in the burning of 61,278,434 SHIB. Comparatively speaking, the burn rate is lower than the three-digit burn days.
According to data from the Shibburn website, 410,376,134,764,786 Shiba Inus have been burnt thus far.
Whales in ethereum make $150 million Inu Shiba
Shiba Inu holdings were approximately $657,836,948 according to a list of the top 5,000 ETH whale holdings published by WhaleStats. The top ethereum whales had Shiba Inus valued at $508,672,407, according to information released on Sunday by the whale analytics site. According to the most current data from WhaleStats, whales have increased their holdings in SHIB by $150 million.
Following the Silverway coin in the examination of the top 100 ETH whale holdings, SHIB comes in second. Even though the top cryptocurrencies are only managing gains of a few percent over the last 24 hours, SLV has increased by almost 24 percent. 11.48 percent of the whale holdings are owned by SHIB.