According to U.Today, data from the Shibburn tracking platform shows that the SHIB Corps destroyed more than 400 million SHIB coins in the past week. According to the same data source, almost all of these hundreds of millions of SHIB coins were destroyed in an operation carried out by a mysterious Meme coin whale.
Shibburn revealed that a staggering total of 411,867,374 SHIBs were transferred to unspendable blockchain addresses. However, despite the huge amount, the weekly destruction rate is down by nearly 50% overall, according to a tweet published earlier today. Almost all of these 411.8 million Shiba Inu were destroyed in a single transfer that carried 372,663,448 SHIBs. The transaction was conducted by a recently awakened whale that had been dormant for over a year. As for daily SHIB destruction, the past 24 hours have not been very productive, with only 76,348 SHIBs burned, a destruction rate drop of 97.77%.
However, the community is not only burning SHIB. On Monday, a new large whale bought a large amount of 237,868,630,126 SHIB. In addition, the SHIB team has successfully raised $12 million to build a Layer-3 blockchain on the Shibarium network. The new Layer-3 network will focus on security and privacy, but will have the possibility to reveal transactions to auditors to show determination to cooperate with regulators. The new network will be powered by the yet-to-be-released TREAT token.
