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HomeCrypto NewsMarketMysterious Wallet Burns 116 Million Shiba Inu, 132 Million Shib Destroyed In...

Mysterious Wallet Burns 116 Million Shiba Inu, 132 Million Shib Destroyed In 24 Hours

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Shiba Inu Burns continues at a rapid pace.



Shiba Inu’s burn rate skyrockets by 590.44% as the mysterious wallet burned 116.47 Million coins while 132.06 Million SHIB were burned via 14 separate transactions in 24 hours.

According to the report, the mysterious wallet has sent a staggering 61,526,340 (61.52M) SHIB to the “inferno” addresses in two nonstop transactions executed about an hour ago.

According to Etherscan.io, the anonymous wallet burned the same amount, i.e., 30,763,170 (30.76M) of Shiba Inu tokens in each of the two transactions.

Anonymous Wallets Burned 116.47 Million SHIB in the Past 24 Hours
Anonymous Wallets Burned 116.47 Million SHIB in the Past 24 Hours

Before executing these two burn transactions, the same wallet incinerated 54,946,535 (54.94M) SHIB in one significant transaction about 10 hours ago.

In total, the wallet burned 116.47M coins alone.

As a result, the Shiba Inu burn rate skyrockets by 590.44%, while the total number of 24 hours burns stands at 132,068,912 (132.06M) SHIB.

Shiba Inu Burn Rate Skyrockets 590.44
Shiba Inu Burn Rate Skyrockets 590.44

 

As earlier reported by The Crypto Basic, the two biggest Shiba Inu Whales scooped up a whopping 256.98 Billion Shiba Inu, worth $2.71 Million in the past 24 hours.

The reduction in supply and the growth in demand pushed the Shiba Inu prices higher by 7.15% over the last day. At press time, Shiba Inu is trading at the price of $0.00001042 with a 24-hour trading volume of $424,450,690 ($424.45M).

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Zabi
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.

Disclaimer: The content is for informational purposes only, 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.

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