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

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

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.

In the past 24 hours, there have been a total of 20,266,427 $SHIB tokens burned and 3 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

— Shibburn (@shibburn) April 5, 2023

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.

? 18,993,016 $SHIB -> transferred to dead wallet. https://t.co/I8purJDlqV

— Shibburn (@shibburn) April 4, 2023

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.

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.

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.