New Wallet Burns Massive 2 Billion Shiba Inu At once

New Mysterious Wallet Burns 2B+ SHIB at Once, Who Could it Be?

The latest burn transaction occurred a few hours after the Cult Punks NFT project incinerated 246 million Shiba Inu tokens.

The Shiba Inu (SHIB) burn rate recently skyrocketed by up to 14,571% in the past 24 hours, following a new mysterious wallet’s incineration of over 2 billion SHIB tokens. Data from Etherscan suggests that the burn transaction occurred today at 15:20 (UTC), involving exactly 2,005,265,274 (2.005 billion) SHIB.

??? 2,005,265,274 $SHIB -> transferred to dead wallet. https://t.co/H2zMHO9VD9

— Shibburn (@shibburn) May 2, 2023

As of press time, there is limited knowledge on the team or individual behind the wallet involved. The wallet was recently activated, with only five transactions carried out on it so far. Its first ever transaction occurred today at 11:37 (UTC).

It bears mentioning that the wallet’s transactions reveal an interesting behavior. Notably, the first two transactions on the wallet involved deposits of up to 14 Ether (ETH) tokens. The wallet then swapped 10.8 ETH to 2 billion SHIB, and then burned the 2 billion SHIB tokens.

After burning the Shiba Inu tokens, the address swapped 2.45 ETH to 4.8 billion Blaze (BLZE) tokens. Although the team behind the wallet remains unknown, several proponents have asserted that it belongs to the team behind Blaze Token, a recently-launched project which claims to be on a mission to “burn trillions of SHIB.” However, the Blaze team has not officially taken credit for the burn as of press time.

It is important to note that Levi, a social media influencer and founder of the Blaze project, disclosed earlier today that the project is about to carry out its first burn transaction. Moreover, a look at the official Blaze website shows that the project claims to have burned 2,005,265,274 SHIB so far.

$SHIB ARMY BIG NEWS IS COMING!!!#BLZE IS GETTING READY TO COMPLETE ITS FIRST EVER #SHIB BURN!!!!

ARE YOU READY???

— Levi (@LeviRietveld) May 2, 2023

The latest burn occurred shortly after the Cult Punks NFT project incinerated 246 million SHIB tokens earlier today, as previously reported by The Crypto Basic. Consequently, up to 2.259 billion Shiba Inu has been burned in the past 24 hours, with 410.63 trillion tokens burned so far.