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HomeCrypto NewsMarketMysterious SHIB Whale Burns 30.47 Million Shiba Inu

Mysterious SHIB Whale Burns 30.47 Million Shiba Inu

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Shiba Inu Community Sends 31.97 Million SHIB to Dead Wallet in 24 Hours. Mysterious SHIB Whale wipes out 30.47 Million SHIB in Major Burn Event.

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The Shiba Inu Community has continued its efforts to increase the scarcity of SHIB tokens in circulation by collectively sending an additional 31.97 million SHIB tokens to the dead wallet through four separate transactions in the past 24 hours.

An unknown Shiba Inu Whale, which possessed a massive amount of 8.84 billion SHIB tokens, was the reason behind the recent significant burn activity of SHIB tokens. According to the information provided by Etherscan.io, this major SHIB holder carried out a substantial transaction roughly 12 hours ago, eliminating 30,472,946 SHIB, valued at $339.47, from circulation forever.

Unknown Wallet Burned 3047 Million SHIB in a Single Transaction
Unknown Wallet Burned 3047 Million SHIB in a Single Transaction

Despite the recent significant burn activity, the overall Shiba Inu burn rate for Shiba Inu had decreased by -94.69% in contrast to the previous day, when an astounding 602.60 million SHIB tokens were permanently removed from circulation through three separate transactions.

Shiba Inus Burn Rate Decreased by 94 Percent Over the Past 24 Hours
Shiba Inus Burn Rate Decreased by 94 Percent Over the Past 24 Hours

Shiba Inu has been making headlines for its advancements and developments beyond its burn activity. Recently, it became the top watchlisted NFT project on Certik, surpassing major projects like ApeCoin (APE), The Sandbox (SAND), and Decentraland (MANA). This significant development occurred shortly after the Shibarium Public Beta went live. Although, the team has yet to release the Shibarium Documents that are reported to contain essential details on how to access the beta website.

Furthermore, Unstoppable Domains, a leading provider of Web3 domains, has added support for Shiba Inu on its platform, allowing users to acquire Web3 domains using the popular canine-themed cryptocurrency.

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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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