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HomeCrypto NewsMarket30M Shiba Inu Burnt In 1 Transaction, Burn Rate Spikes 800%

30M Shiba Inu Burnt In 1 Transaction, Burn Rate Spikes 800%

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Single wallet burned 30M Shiba Inu.



Over 34.20 Million Shiba Inu (SHIB) has been removed from circulation forever in 24 hours, 30 Million SHIB in a single transaction. Shiba Inu’s Burn Rate skyrockets 820.84% over the last day.

Shiba Inu Community has made three burn transactions in the past 24 hours and destroyed 34,203,073 (34.20M) SHIB.

As per the report, the mysterious wallet burned a whopping 30,000,000 (30M) SHIB in one significant transaction.

The massive burn transaction was executed about 2 hours ago, as per Etherscan.io.

Mysterious Wallet Burned 30 Million SHIB
Mysterious Wallet Burned 30 Million SHIB

Moreover, the said transaction caused Shiba Inu’s burn rate to surge 820.84% over the last day when the Community-led burn initiatives were able to reduce the SHIB circulating supply by only 3,714,331 (3.71M) tokens.

SHIB Burn Rate Skyrockets 820.84 in the Past 24 Hours
SHIB Burn Rate Skyrockets 820.84 in the Past 24 Hours

Despite the widespread selloff in the global crypto market, Shiba Inu successfully defended its crucial support level located at $0.0000093 on the daily chart.

SHIB Stands Firm on Crucial Support 1D
SHIB Stands Firm on Crucial Support 1D

At press time, Shiba Inu is trading at the price of $0.00001014, up 5.34% over the last day, with a 24-hour trading volume of $464,288,364 ($464.28M).

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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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