In a Twitter post, @shibburn mentioned that the Shiba Inu (CRYPTO: SHIB) community had transferred 948.6 million SHIB to dead wallets.

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Whales continue to accumulate SHIB in recent transactions.

According to WhaleStats, a large Ethereum investor, whose wallet is titled "BlueWhale0073", has purchased over $1.4 million in SHIB – that's over 109 billion of the meme coins.

Last month, close to 20 billion SHIB worth over $455,000 were destroyed after the Burn Portal was launched on April 23.