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Shib Burn Reaches Billions Per Day: 1.46B Shiba Inu Burnt in 24 Hours, 17B Since Burn Portal Launch

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1.46 Billion Shiba Inu Burnt in 24 Hours, 17.01 Billion Since Burn Portal Launch.


 

The newly launched “SHIB Burn Portal” on ShibaSwap appears to be one of the key drivers of long-term gain in value, as the daily burn rate for the popular dog-themed cryptocurrency skyrockets. The SHIB tokens are being burned in billions per day instead of millions.

Over 1.46 Billion Shiba Inu (SHIB) tokens have been removed from circulation permanently within the last 24 hours with the help of a new burn portal.

Shibburn.com, one of the authentic Shib Burn tracking websites, has recently reported that over the last 24 hours, a total of 1,461,828,101 (1.46B) SHIB has been wired to “inferno” addresses through 160 transactions and been locked up there permanently, never to use again.

“SHIB Burn Portal” came into being on April 23, 2022 (4 days ago). Since then, a total of 17,013,283,125 (17.01B) SHIB have been burned through hundreds of separate transactions.

17 b Sihb burned
image source: https://burn.shibaswap.com/

As reported by TheCryoptoBasic, Yesterday, a whopping 5 Billion Shiba Inu were burned. Two random mysterious wallets made the biggest burn till now. They had reportedly sent over 2 billion SHIB tokens to the dead wallet through two separate transactions.

On the other hand, after the Robinhood listing, ETH Whales are continuously accumulating the world’s 15th biggest cryptocurrency in large quantities since April 12, 2022. Recently, the 5th biggest ETH wallet accumulated a whopping total of 289.33 Billion Shiba Inu (SHIB), worth $7.07 million within the period of the last 24 hours through two separate transactions.

The burning of SHIB and the massive accumulation from top ETH whales indicate that Shiba Inu is undergoing its accumulation stage and may soon start a new massive “Bull Run” in the coming days, weeks, or months.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Zabi
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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