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HomeCrypto NewsMarketUnknown Wallet Burns 1 Billion Shiba Inu In One Transaction

Unknown Wallet Burns 1 Billion Shiba Inu In One Transaction


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Random Mysterious Wallet Sent 1 Billion Shiba Inu (SHIB), Worth $23,948 to the Dead Wallet through One Significant Transaction.

The newly launched “SHIB Burn Portal” is literally breaking the internet. The Shiba Inu Community is seen so much excited about the newly developed burn mechanism introduced by the SHIB team in collaboration with the amazing Ryoshi Vision team.

The excitement skyrockets when one random mysterious wallet sent 1 Billion Shiba Inu (SHIB), worth $23,948 to the dead wallet through a single significant transaction.

shib burn transaction
image source etherscanio


Looking deep into the data provided by etherscan.io, we found that the mysterious wallet still holds 1,400,001,825 (1.40B) SHIB, worth $32,424.

The much-awaited “SHIB Burn Portal” officially went live on Shibaswap.com on Saturday, April 23, 2022. The newly launched portal appears to be a BIG SUCCESS from the team as 10.9 billion Shiba Inu tokens have been taken out of circulation forever within less than 48 hours of launch.

SHIB Burn Portal encourages its users to contribute towards the burn while rewarding them with a passive income in the form of the Ryoshi Vision token, an official SHIB partner token. As of April 23, the Ryoshi Vision token reached the major milestone of 25,000 holders.

Why Shiba Inu (SHIB) Price Declines Despite Such Massive Burn?

Despite aggressive burn in play and the recent gigantic development, the Shiba Inu (SHIB) price remains on the back foot, making the Shiba Inu community curious about the fact. This is because the Shiba Inu token is still looking for demand – especially from new investors. For instance, the global crypto market cap is still well below the $2 trillion market cap, currently standing at $1.77T, showing a 4.14% decrease over the last day. This means the global market cap is still liquidated and not growing. This refers to the fact that investors have to wait patiently for the “Healthy Market” in order to see some eye-popping gains. At the time of writing, Shiba Inu’s price declined more than 7% over the last day and is trading at $0.00002257.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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