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HomeCrypto NewsMarketShiba Inu Burns Rise With Price, As 50M Shib Burnt in a Day

Shiba Inu Burns Rise With Price, As 50M Shib Burnt in a Day

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Shiba Inu’s daily burns are on the rise.

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Over 52.28 Million Shiba Inu has been burned in the past 24 hours as SHIB becomes the biggest gainer in the top 20 cryptocurrencies.

The Shiba Inu Community has sent a substantial amount, totaling 52,280,070 (52.28M) SHIB to a non-spendable address, referred to as a “dead” wallet through 15 separate transactions in the last 24 hours.

As reported earlier by The Crypto Basic, a large amount of Shiba Inu was eliminated by an unknown wallet. The wallet sent a staggering 36,423,403 (36.42M) SHIB to the “inferno” address in a single transaction, removing them permanently from circulation.

Shiba Inu’s Impressive Price Rise and Market Performance

Shiba Inu experienced a significant increase in value over the past 24 hours and has become one of the biggest performers among the top 20 cryptocurrencies. The current price of Shiba Inu is $0.00001257 up 19.82% over the last day with a trading volume of $823,503,561 ($823.50M) over the past 24 hours.

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This astronomic rise in value has allowed SHIB to surpass Litecoin (LTC) and Polkadot (DOT) in terms of market capitalization and move up to the 12th spot as one of the largest cryptocurrencies in the world.

Moreover, SHIB has become the most heavily traded token among the top 100 biggest ETH whales, according to data from WhaleStats. Additionally, it has overtaken Curve DAO Token (CRV) in terms of trading activity among these major holders.

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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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