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HomeCrypto NewsMarketMysterious Wallet Burns 52M Shiba Inu

Mysterious Wallet Burns 52M Shiba Inu

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Over 53.08 Million Shiba Inu (SHIB) has been sent to the “inferno” addresses in the past 24 hours, 51.74 Million in a single transaction.



Shibburn.com recently reported that Shiba Inu Community has cut circulating supply by another 53,087,618 (53.08M) canine-themed tokens through two separate transactions in the past 24 hours.

The mysterious wallet is recognized as the Top SHIB Burner of the Day as it permanently removed a staggering 51,743,223 (51.74M) SHIB from circulation in one significant transaction.

This significant burn from the unknown wallet caused the Shiba Inu Burn rate to soar by 105.82% over the past 24 hours.

Burn Rate Soars 152.80 Compared to the Past 24 Hours
Burn Rate Soars 152.80 Compared to the Past 24 Hours

EtherScan Data

As per Etherscan.io, the unknown wallet executed its first-ever SHIB Burn transaction on November 11th to incinerate 10,000,000 (10M) SHIB. On the same date, the wallet sent another 1,999,999 (1.99M) SHIB to the dead wallet in a separate transaction. And 10 hours ago, the wallet burnt 51,743,223 (51.74M) coins.

The unknown wallet destroyed 63,743,223 (63.74M) SHIB through 3 separate burn transactions within the past four days.

Unknown Wallet Burned 63.74 Million SHIB since November 11th
Unknown Wallet Burned 63.74 Million SHIB since November 11th

On the other hand, the largest Shiba Inu holders continue to splurge millions of dollars to fill up their SHIB bags. As reported earlier by TheCryptoBasic, the 7th biggest Shiba Inu Whale splurged a whopping $6.11 million to accumulate 655.75 Billion SHIB in three separate transactions.

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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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