Over 111.22 Million Shiba Inu (SHIB) burned in the past 24 hours, 108.47 Million in a single transaction.
According to stats, the burn rate of Shiba Inu skyrocketed by 764.25% today.
The increase in Shiba Inu’s burn rate comes after the Community-led SHIB Burn projects incinerated a staggering 111,223,906 (111.22M) SHIB via seven separate transactions in the past 24 hours.
In the past 24 hours, there have been a total of 111,223,906 $SHIB tokens burned and 7 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) January 25, 2023
Anonymous Wallet
As reported earlier by The Crypto Basic, an unknown wallet has taken out a significant amount of Shiba Inu from circulation permanently in the last 24 hours. The mysterious wallet unstaked a whopping 108,476,685 (108.47M) SHIB from Shiba Inu’s DEX ShibaSwap and send it to the “inferno” address in a single transaction. The transaction occurred about 21 hours ago from press time.
Nansen Report
On the other hand, Data from Nansen suggests that a large number of new and first-time cryptocurrency investors love to purchase and hold Shiba Inu. According to a recent report by Nansen, Shiba Inu is the most popular digital asset among newly funded crypto wallets in the past seven days. The firm recorded that over $56 million worth of SHIB tokens were transferred into around 12,000 new wallets in a week. Additionally, Nansen found that the SIHB was the most common cryptocurrency apart from stablecoins in these newly funded wallets.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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