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HomeCrypto NewsMarketOver 47M Shiba Inu Burnt In a Day As Dormant Wallet Becomes Active To Burn 23.6M Shib

Over 47M Shiba Inu Burnt In a Day As Dormant Wallet Becomes Active To Burn 23.6M Shib

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Over 47.44 Million Shiba Inu (SHIB) burned in the past 24 hours, 23.61 Million by a single wallet.

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As per burn stats, Shiba Inu Community collectively removed a whopping 47,440,894 (47.44M) SHIB from circulation by sending coins to the “inferno” addresses via eleven separate transactions in the past 24 hours.

Mysterious Wallet

The mysterious wallet that remained dormant since December 2021 burned 23.61 Million SHIB in a single transaction.

Etherscan.io reports that the wallet that remained inactive since December 2021 suddenly woke up about 14 hours ago from press time and transferred a staggering 23,616,644 (23.61M) SHIB to the dead wallet in one significant transaction.

Dormant Wallet Burned 23.61 Million SHIB in a Single Transaction
Dormant Wallet Burned 23.61 Million SHIB in a Single Transaction

The report further illustrates that the dormant wallet last accumulated a little 4,558,215 (4.55M) SHIB on December 13th, 2022. after the burn, the wallet now holds zero SHIB.

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This massive burn transaction causes overall Shiba Inu’s burn rate to surge by 235.58% over the last day.

Shiba Inus Burn Rate Surges 235 Percent Over the Last 24 Hours
Shiba Inus Burn Rate Surges 235 Percent Over the Last 24 Hours

Despite the massive burn transaction, Shiba Inu remains on the back foot. As of writing, Shiba Inu is trading at the price of $0.00000819, down -8.29% over the last day, with a 24-hour trading volume of $182,040,451 ($182.04M).

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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.

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