Over 40.87 million Shiba Inu (SHIB) burned in the past 24 hours, 14.62 million by a single wallet.
Shiba Inu witnesses a sharp decline in burn rate as over 40.87 million SHIB tokens go up in flames. Coinbase-associated wallet emerges as the top SHIB burner of the day.
Shibburn.com data reveals that the Shiba Inu Community has set fire to a total of 40,877,932 (40.87M) SHIB through twelve separate transactions in the past 24 hours.
In the past 24 hours, there have been a total of 40,877,932 $SHIB tokens burned and 12 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) May 25, 2023
This represents a -97.30% decrease in Shiba Inu’s burn rate compared to the previous day, where a staggering 1,350,604,128 (1.35B) SHIB were removed from circulation forever through hundred individual transactions.
Coinbase-associated Wallet Burns 14.62M SHIB:
The biggest burn transaction of the day comes from the Coinbase-associated wallet tagged, “Coinbase 10”. The wallet sent a whopping 14,628,437 (14.62M) SHIB to the inferno address in a single transaction executed about 5 hours ago from press time.
🔥 14,628,437 $SHIB -> transferred to dead wallet. https://t.co/RNzXt99ZEB
— Shibburn (@shibburn) May 24, 2023
This significant burn transaction brings the total number of burned SHIB tokens to 2,688,277,511 (2.68B) in the past 7 days.
On the other hand, Shiba Inu’s mainstream adoption continues to rise. As reported earlier by The Crypto Basic, Brave Wallet, a multi-chain cryptocurrency wallet has joined forces with BitPay to facilitate Shiba Inu payments at over 250 retailers worldwide.
In addition, LunarCrush, a leading social intelligence platform has added support for SHIB on its trading platform, LunarCrush Trade.
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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.