Someone Burns 64M Shiba Inu in One Transaction, 85M in 24 Hours

Over 85 Million Shiba Inu (SHIB) burned in the past 24 hours, 63.86 Million in a single transaction.

Shiba Inu Community collectively removed a staggering 85,010,210 (85.01M) from circulation forever through nine separate transactions in the past 24 hours.

In the past 24 hours, there have been a total of 85,010,210 $SHIB tokens burned and 9 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy

— Shibburn (@shibburn) February 27, 2023

The most significant burn transaction of the day took place about 4 hours ago from press time. As per data provided by Etherscan.io, the unknown wallet sent a whopping 63,869,939 (63.86M) SHIB to the dead wallet in a single transaction.

This massive burn caused the overall Shiba Inu burn rate to surge by 2439.55% over the last day.

The development comes amidst exciting news about the highly-anticipated Shibarium Beta launch. Recently, Shytoshi Kusama, the lead developer of SHIB, called on developers worldwide to build on Shibarium by making the intake form for Shibarium Beta live. To facilitate this, the Shiba Inu team has launched a new website called “Shibarium Tech.”

However, the team still doesn’t reveal the exact launch date, but Kusama has confirmed that the team is prepared to release it, along with Shibarium documents, as soon as possible.

Alongside these developments, Shiba Inu has also climbed to become the world’s 10th largest cryptocurrency, excluding stablecoins, based on market cap. Moreover, as reported earlier by The Crypto Basic, Binance.US has introduced a new trading pair for Shiba Inu against the US Dollar on its platform while replacing KSHIB/USD pair.