[ccpw id="39382"]

HomeCrypto NewsMarketSingle Wallet Burns 1.2 Billion Shiba Inu in One Transaction

Single Wallet Burns 1.2 Billion Shiba Inu in One Transaction

Date:

Written By:

Over 1.24 billion Shiba Inu (SHIB) burned in the past 24 hours, 1.23 billion by a single wallet.

In a surprising turn of events, Shiba Inu Community has transferred 1,240,951,903 (1.24B) SHIB to the dead wallet. This remarkable feat was achieved through three individual transactions in the past 24 hours. Blaze Token executed the most significant burn transaction of the day.

Blaze Token, a newly emerged token, made a groundbreaking move by permanently removing a record 1,238,951,893 (1.23B) SHIB from circulation in a single transaction executed about 12 hours ago from press time. This latest burn brings Blaze Tokenโ€™s total number of burned SHIB to a staggering 7,955,814,803 (7.95B).

Shibburn.com has also confirmed this transaction via tweet.

The massive burn transaction has caused Shiba Inuโ€™s burn rate to increase by 2344.56% over the past day, where 50,763,734 (50.76M) SHIB were burned through three separate transactions.

Shib Burn Rate Surges 2344 Percent in the Past 24 Hours
Shib Burn Rate Surges 2344 Percent in the Past 24 Hours

As reported earlier by The Crypto Basic, the Shiba Inu community has unveiled an exclusive leak of the much-awaited SHIB burn portal on Shibarium โ€“ Layer 2 Network. The portalโ€™s design suggests that Shibarium would convert BONE tokens into Shiba Inu. These converted SHIB tokens will then be dispatched to the burn address, significantly reducing the overall supply of SHIB tokens.

In addition, Shiba Inu recently secured the listing on two major exchanges, including a Bahrain-based exchange, CoinMENA, and Digitra.com, a Brazilian-based exchange.

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.

-Advertisement-

Author

Zabi
Zabi
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