[ccpw id="39382"]

HomeCrypto NewsMarketBurn Rate up 147% As Single Wallet Burns 18M Shiba Inu

Burn Rate up 147% As Single Wallet Burns 18M Shiba Inu


Written By:


Over 20 Million Shiba Inu (SHIB) Burned in the Past 24 Hours, 18.99 Million by a Single Wallet.

- Advertisement -

The Shiba Inu Community has made a significant move in the past 24 hours by collectively sending a total of 20,266,427 (20.26M) SHIB to the dead wallet through three separate transactions.

The most significant burn transaction was initiated by the Coinbase-associated wallet, tagged “Coinbase 10″, which transferred a whopping 18,993,016 (18.99M) SHIB to the burn addresses in a single transaction, approximately 9 hours ago from press time.

- Advertisement -

This move has caused the overall burn rate for Shiba Inu to soar by 147.33% in just one day compared to the previous day’s burn rate of 15,139,646 (15.13M) SHIB through four separate transactions.

SHIB Burn Rate Jumps 147 Percent over the Past 24 Hours
SHIB Burn Rate Jumps 147 Percent over the Past 24 Hours

Whales Buying Shib

Shiba Inu continues to catch the attention of top Ethereum whales as the 254th biggest ETH whale, “BlueWhale0073,” has made yet another significant purchase of the popular cryptocurrency. Within the past 24 hours, the whale has acquired a staggering 229,963,072,498 (229.96B) SHIB, worth $2,580,185 ($2.58M).

This follows the whale’s previous purchase of 99,297,904,247 (99.29B) SHIB, worth $1,058,515 ($1.05M) in a single transaction on March 31st.

- Advertisement -

The whale’s continued interest in SHIB suggests a growing demand for the cryptocurrency, which has surged in popularity in recent months. CoinMarketCap’s Q1 report supports this claim, revealing that Shiba Inu is among the most closely watched cryptocurrencies on the platform, with investors from all continents keeping a close eye on SHIB.

Follow Us on Twitter and Facebook.

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.



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.

More from Author

Latest Stories