According to the analytics website Shibburn, SHIB Army has burned millions worth of this meme in the past week.
In the past 24 hours, the number of SHIBs locked in dead wallets has also increased, causing the burning rate to increase significantly.
Recent Shibburn data shows that over the past 24-hour period, various members of the Shiba Inu community (both institutions and individuals) have succeeded in burning a total of 12,825,901 meme coins.
Most of this money was burned in one transaction, burning 10,455,764 SHIB. In addition, two transactions, each burning 1,000,000 SHIB, took place before that transaction.
Last week, the rate of burning Shiba Inu increased many times over. On May 1, the gain reached 1,400%. On May 3, a 30,940% spike to a total of 2,005,265,274 Shiba Inu was burned.
Whales, meanwhile, amassed nearly 10.3 trillion Shiba Inu in the last week, according to a report provided by on-chain data aggregator IntoTheBlock.