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HomeCrypto NewsMarket602M Shiba Inu Burned in a Day As Newly Launched Token Burns 592M SHIB

602M Shiba Inu Burned in a Day As Newly Launched Token Burns 592M SHIB

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Over 602.60 million Shiba Inu (SHIB) burned in the past 24 hours, 591.92 million in one significant transaction.

The Shiba Inu Community has made an impressive move by collectively sending an astounding 602,601,936 (602.60M) SHIB to a dead wallet through three individual transactions within the past 24 hours.

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KoyoToken

Two significant players in the community burned the majority of the SHIB. Firstly, KoyoToken, a newly emerged token, burned a colossal 591,926,555 (591.92M) SHIB in a single transaction executed approximately 19 hours ago.

 

KoyoToken came to life about a week ago, and as per data provided by Etherscan.io, the project has now destroyed a staggering 3,255,967,237 (3.25B) SHIB through multiple transactions.

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Koyo Token Burned 325 Billion SHIB in the Past Seven Days
Koyo Token Burned 325 Billion SHIB in the Past Seven Days

SHIB Super Store

Secondly, the well-known SHIB burn project, SHIB Super Store, executed a significant burn transaction about 12 hours ago, permanently removing 10,582,010 (10.58M) SHIB from circulation.

The recent massive burn activity caused Shiba Inu’s burn rate to skyrocket by 2452.51% compared to the last day when only 23,511,138 (23.51M) SHIB has been permanently removed from circulation through three separate transactions.

Shiba Inu Burn Rate Surges 2452 Percent Over the Last Day
Shiba Inu Burn Rate Surges 2452 Percent Over the Last Day

Besides the significant burning activity, the Shiba Inu Ecosystem is also undergoing various advancements. As reported earlier by The Crypto Basic, the Shiba Inu team has finally launched the much-awaited Shibarium Public Beta testnet, creating a lot of excitement within the Shiba Inu Community.

Following this news, a top Ethereum whale named “BlueWhale0073” became active and acquired 215.81 billion SHIB tokens worth $2.20 million in one significant transaction. This whale has accumulated over 674 billion SHIB in the past ten days.

At the same time, Gate Group, the parent company of the well-known cryptocurrency exchange Gate.io, has revealed its intention to launch the Gate Visa debit card in Europe. With this card, customers can pay with Shiba Inu (SHIB) and other cryptocurrencies at any 80 million merchant stores that accept Visa.

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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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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