Over 758.95 Million Shiba Inu (SHIB) burned in the past 24 hours, 733.02 Million in a record transaction.
In a surprising move, the Shiba Inu Community has conducted a massive burn event, eliminating a record-breaking 758,951,740 (758.95M) SHIB from circulation through nine separate transactions within 24 hours.
In the past 24 hours, there have been a total of 758,951,740 $SHIB tokens burned and 9 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) March 22, 2023
The newly launched token primarily led the burn, Koyo (KYO) token, which executed the most significant transaction of the day by transferring 733,024,321 (733.02M) SHIB to the dead wallet around 12 hours ago from press time. This burn event marks the largest transaction of the week.
In the previous week, Koyo burnt a record SHIB on March 17th by destroying 924,150,949 (924.15M) coins in a single transaction. As per data provided by Etherscan.io, Koyo has burned a humungous 5,364,203,658 (5.36B) SHIB since March 10th through multiple transactions.
18.32M SHIB Burned via Coinbase Exchange Wallet
The second major burn transaction in the past 24 hours came from the wallet associated with Coinbase, called “Coinbase 10,” which transferred 18,323,408 (18.32M) SHIB to the dead wallet around 3 hours ago from press time.
? 18,323,408 $SHIB -> transferred to dead wallet. https://t.co/6R3ib2LAST
— Shibburn (@shibburn) March 22, 2023
The massive burn transactions had caused Shiba Inu’s burn rate to skyrocket by 4622.53% over the past day when only 11,113,873 (11.11M) SHIB were destroyed through nine transactions.
As of writing, Shiba Inu is trading at the price of $0.00001093, up 3.07% over the last day, with a 24-hour trading volume of $335,914,372 ($335.91M).
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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