Starting May 12, the Shiba Inu (SHIB) token burning has been carried out in order to reduce its stock in the market.
As of today, a total of 410 trillion SHIBs have been permanently deleted since the launch of the burning portal on April 23 and the price of this token unit has not shown any price spikes, trading at around $0.0000116, down over 6% in 24 hours but still holding up with an increase of over 13% since last week.
Even so, holders who burn SHIBs are offered rewards with Ryoshis Vision (RYOSHI) tokens via burntSHIB received in advance.
It is understood that RYOSHI's gift started two days ago based on Ryoshi Vision's official tweet on the Twitter page:
Rewards Announcement
The first distribution of ShibaBurn Rewards are out now.
For those who burned $SHIB through the burn portal and are holding $burntSHIB your rewards are available now.
Check your balance https://t.co/trkX7sBEWu#RyoshisVision #ShibaSwap #Together pic.twitter.com/ocldV4dBKZ
— Ryoshis Vision (@Ryoshis_Vision) May 17, 2022
At the time of writing RYOSHI recorded a 1% increase in 24 hours with a trade value of $0.000000006133.
Whales Buy
At the same time, there was a whale watching the price movement of SHIB and making a big purchase of this token.
Based on its transaction record, BlueWhale0073 has made purchases of 116,728,251,707 SHIB worth approximately $1,385,564 as of last night.
Indirectly, this whale's SHIB ownership increased to 7,215,260,528.66 (~$84,598).
