Shiba Inu becomes the most traded token among whales, burn rate takes off

The popular dog-themed meme coin, Shiba Inu, has become the most traded token among crypto whales as the new year came in. SHIB’s burn rate has notably increased in the past 24 hours as well.

According to Whale Stats, SHIB is trading at $0.0000082, up by 2% in the past 24 hours and has become the most traded token and the fifth top purchased token among the top 100 ethereum (ETH) whales.

The top SHIB whales are holding $152.5 million (18.538 trillion SHIB), $114.8 million (13.938 trillion SHIB) and $84.04 million (10.2 trillion SHIB) worth of the meme coin, respectively. Moreover, the top Shiba Inu transaction in the past 30 days belongs to the second-largest SHIB whale who transferred 2.8 trillion tokens — worth $25.9 million — on December 9, 2022, according to Whale Stats data.

Furthermore, the number of SHIB holders rose to 1,275,583 wallets, up by 0.016% in the past 24 hours, with a market cap of $4.515 billion.

Shiba Inu burn rate rises

While Shiba Inu became the top traded token among whales, its burn rate has increased too. According to SHIB BURN data, SHIB’s burn rate has grown by 115.63% in the last 24 hours. 200.797 million tokens worth roughly $1,650 were moved to dead wallet addresses.

The previous largest burn transaction recorded in the past 24 hours is worth $1,210 — 147.9 million SHIB.