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HomeCrypto NewsMarketShiba Inu Burn Rate Skyrockets As Millions of Shib Burnt

Shiba Inu Burn Rate Skyrockets As Millions of Shib Burnt

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Over 111.22 Million Shiba Inu (SHIB) burned in the past 24 hours, 108.47 Million in a single transaction.

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According to stats, the burn rate of Shiba Inu skyrocketed by 764.25% today.

Shiba Inus Burn Rate Surges 764 Percent in the Past 24 Hours
Shiba Inus Burn Rate Surges 764 Percent in the Past 24 Hours

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.

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.

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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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