SHIB Burns Crash 73%, SHIB Price Follows Suit But Here's Catch
2025-02-14
Category: None

According to the figures shared by the prominent blockchain tracker Shibburn, since last morning, one of the key metrics of the meme cryptocurrency SHIB has demonstrated a massive decline.
The same is happening in the SHIB market at the moment.
SHIB burns crash together with price
In a recently published tweet, the aforementioned data tracker shared that over the past 24 hours, the daily SHIB burn rate has shown a decline of 73.43% with less than a million SHIB torched in total -724,556 meme coins.
HOURLY SHIB UPDATE$SHIB Price: $0.00001617 (1hr -1.01% ▼ | 24hr 2.08% ▲ )
Market Cap: $9,525,787,706 (1.86% ▲)
Total Supply: 589,255,581,952,770
TOKENS BURNT
Past 24Hrs: 724,556 (-73.43% ▼)
Past 7 Days: 59,145,176 (-94.93% ▼)
Meanwhile, the price of the second largest meme cryptocurrency by market capitalization size, SHIB, has dropped by almost 6%, losing the $0.00001700 level and currently changing hands at $0.00001597.
However, the updated figures on the SHIB burn website have revealed that just recently an anonymous whale has burned an impressive 13,000,911 SHIB, lifting the burn rate to 403.41%.
This SHIB decline is mirroring that of Bitcoin as the world’s bellwether cryptocurrency has dropped by 2.64%, providing SHIB and other altcoins with a price trajectory to follow. Bitcoin has fallen from $98,000 and has hit $95,460 where it is trading as of this writing.
New whale grabs 290.4 billion SHIB
Earlier today, the @lookonchain analytics account revealed that a new SHIB whale was born after that newly-setup wallet accumulated 290.4 billion Shiba Inu on the world’s largest cryptocurrency trading platform Binance.
A newly created wallet withdrew 290.4B $SHIB($4.84M) and 97,111 $AVAX($2.52M) from #Binance ~40 mins ago.https://t.co/5AcBCUmEga pic.twitter.com/ph0xpPnUL4
That amount of meme coins was valued at $4.84 million. Aside from SHIB, the whale also purchased 97,111 AVAX worth $2.52 million on the same crypto exchange. The whale took advantage of the massive price declines in the market and bought the dips, adding more coins to their wallets.