According to data freely accessible via etherscan, about 28 million SHIB have been transmitted to a null address in the last 24 hours.
As previously reported earlier this week, approximately the same amount of SHIB has been burned daily over the prior few days. Meanwhile, the second largest canine coin fell 6.5 percent on January 7. It had declined in the same manner two days previously, then recovered and dropped again.
Dogecoin rival SHIB is currently trading at $0.00002974, according to CoinMarketCap data.
Another 28 million SHIB were destroyed.
The Twitter user @shibburn reported that in the last 24 hours, 19,337,093 tokens were delivered to a dead wallet in 11 transactions. However, they then added that in the previous hour, another 8,612,311 people were cremated in three transfers.
As a result, a total of 27.6 million tokens have been delivered to the unspendable address and are no longer in circulation.
Despite the sell-off, top SHIB whales are adding more, and the community is growing.
According to WhaleStats, a company that collects data on the top cryptocurrency whales—including those hoarding Shiba Inu—the top 100 SHIB whales have boosted their holdings in this meme cryptocurrency despite the current sell-off and have purchased additional tokens on the drop.
Their SHIB balance had climbed by 2.29 percent in the preceding 24 hours two days ago. According to WhaleStats, the total number of SHIB holders at the time of writing is 1,124,693. On Jan. 6, this figure was slightly lower—1,122,398—demonstrating that the SHIB community is growing by the day.
SHIB has been listed on the Indian exchange, and AMC will accept SHIB and Doge in March.
On January 6, the new India-based exchange Koinbazar announced the launch of trading in the SHIB/USDT pair. Unlike many other exchanges in India and other countries, this platform does not prohibit trading by US residents, allowing it to increase its user base.
SHIB has been listed on yet another exchange in the last several months. Gemini and Kraken, as well as prominent platforms in Spain, India, South Korea, and Singapore, are among many who have done so.
In other headlines, the CEO of big U.S. movie theater chain AMC revealed that, after all, they plan to begin accepting SHIB and its rival Dogecoin as payment in the first half of 2022. He anticipates that it will take place in March.