WhaleStats on-chain facts tracker has shared that more than the earlier 24 hours, Shiba Inu meme coin has surpassed Wrapped Bitcoin (WBTC) and turned the most traded digital asset for the major 100 Ethereum whales.

This coincided with the SHIB army raising the burn off fee of their favorite canine token drastically.

SHIB burn off charge jumps 5,761%

According to information posted by the Shibburn tracking web page earlier today, in the past 24 hours, the fee at which the SHIB army disposes of meme coins, locking them up in unspendable wallets, has surged by a whopping 5,761%.

This time, considering the fact that final morning many entities and eager men and women have eliminated 13,696,795 Shiba Inu tokens.

The objective of burning (i.e., transferring coins to useless-conclude wallets) is to lessen the circulating quantity of a coin to a degree that will make sure its price tag rise, considering that burning can make a cryptocurrency a lot more scarce. Pushing the SHIB price toward one greenback or at the very least one particular cent is the dream of the Shiba Inu neighborhood.

SHIB outperforms WBTC, whales get more Shiba Inu

WhaleStats wallet tracker published a tweet which stated that the 2nd largest meme crypto by industry capitalization worth flipped Wrapped Bitcoin (WBTC) on Ethereum chain for the placement of the asset most traded by the most significant ETH whales.

📰 JUST IN: $SHIB @Shibtoken flipped $WBTC for MOST TRADED token among the top rated 100 #ETH whales

Test the major 100 whales in this article: https://t.co/N5qqsCAH8j

(and hodl $BBW to see knowledge for the prime 5000!)#SHIB #WBTC #whalestats #babywhale #BBW pic.twitter.com/3Je2fmpwto

— WhaleStats (tracking crypto whales) (@WhaleStats) January 14, 2023

At the instant, SHIB is also sitting down on the best 10 record of assets owned by ETH whales, holding the eighth position. It is also the 10th largest asset by investing volume listed here.

For the very first time above the previous couple months, Ethereum whales have elevated the quantity of SHIB in their portfolio. Now they are holding a complete of $81,260,262 truly worth of this meme cryptocurrency. A week back, this sum was 4 moments smaller, in accordance to WhaleStats.