Over 149.31 Million Shiba Inu (SHIB) burned in the past 24 hours, 136.22 Million in a single transaction.
The Shiba Inu Community has made a startling move by permanently removing a staggering 149,313,637 (149.31M) SHIB from circulation in just 24 hours. The Community executed eight separate transactions to achieve this feat, with the most significant burn transaction of the day coming from a mysterious wallet.
In the past 24 hours, there have been a total of 149,313,637 $SHIB tokens burned and 8 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) April 1, 2023
The mysterious wallet sent an enormous 136,221,189 (136.22M) SHIB to the burn addresses in one transaction, which took place approximately 8 hours ago from press time.
🔥🔥 136,221,189 $SHIB -> transferred to dead wallet. https://t.co/JrxVHAJ7vg
— Shibburn (@shibburn) March 31, 2023
This move has caused the overall burn rate for Shiba Inu to surge by 1011.60% in just one day, compared to the previous day’s burn rate of 8,209,953 (8.20M) SHIB through six separate transactions.
As reported by The Crypto Basic, the Community-led burn projects have set fire to a record-breaking 6,782,788,547 (6.78B) SHIB through 540 individual transactions in March 2023.
Shiba Inu is making waves in the cryptocurrency world once again, as its Shibarium Public Beta Testnet, also known as Puppynet, has experienced remarkable growth since its launch. The network has recently achieved a significant milestone, reaching 200K wallets. The growing network has processed over 1 million transactions in 179,319 blocks, with an average block time of 8.3 seconds, showcasing its potential to be a top contender in the crypto space.
However, Shiba Inu’s price has significantly declined by 11.8% over the past 30 days, attributed mainly to a massive selloff by a bankrupt crypto lending company, Voyager. As reported by The Crypto Basic, Voyager has received up to $610 million worth of USDC in two separate addresses by selling SHIB and Ethereum (ETH) over the past month.
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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.