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Shiba Inu Paying Profits! 23% increase in average balance of large wallets

The crypto market has been gloomy for several months now. Cryptocurrencies prices are going down or are struggling to survive. Investors are holding back, as they do not want losses, but this is not affecting the whales that dominate the crypto market. These are accounts that hold large amounts of crypto or buy and sell them. One such information has come to the fore regarding the whales holding the Shiba Inu cryptocurrency. Statistics show that the average balance of the top 100 Shiba Inu holders in the world has increased by 23 per cent.

WhaleStats Quoted by wrote It is believed that the increase in the average balance occurs when these large whales continue to hoard the Shiba Inu amid the recent price drop. Gimli, one such large whale on the Ethereum block chain, received 750 million Shiba Inu tokens (SHIB) in three separate transactions last week.

Statistics show that at present there are 56,253,165,153,694 SHIB tokens in the top 1000 ETH wallets. Their price is estimated at $ 624,403,475. Not only this, the number of investors betting in Shiba Inu is also increasing and it has reached to 1.2 million. The report says that this number will not have any impact on Shiba Inu prices for the time being, but it reflects public interest for the future.

Significantly, the ‘burn rate’ of the Shiba Inu has increased by about 231 percent. Just yesterday we told you that a part of the Shiba Inu containing 196,820,007 tokens has been destroyed. Apart from this, about 25 transactions have been done. Not only this, millions of SHIB coins have been sent to the dead wallet through various transactions within a few hours. Such burns keep on happening at a fixed interval. Such burns are needed on a regular basis to push up the price of the Shiba Inu in the long run. In the last 24 hours, 69,507,755 SHIB tokens were burnt.

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