Shiba Inu’s burn rate skyrockets as the Coinbase-associated wallet burned 200.58 million in a single transaction.
The Shiba Inu Community has collectively managed to remove a total of 231,886,112 (231.88M) SHIB from circulation forever in the past 24 hours. This remarkable feat was achieved through eight separate transactions, as revealed by Shibburn data.
In the past 24 hours, there have been a total of 231,886,112 $SHIB tokens burned and 8 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) May 29, 2023
Coinbase-associated wallet tagged “Coinbase 10,” and the mysterious wallet emerged as the “Top SHIB Burners of the Day.”
Coinbase-associated Wallet
The wallet tagged “Coinbase 10” has burned many Shiba Inu tokens over the last day. The wallet has transferred a staggering 200,583,666 (200.58M) SHIB to the dead wallet in one significant transaction executed about 9 hours ago from press time.
?? 200,583,666 $SHIB -> transferred to dead wallet. https://t.co/gmCLVOBGPR
— Shibburn (@shibburn) May 28, 2023
Mysterious Wallet
Following closely, a dormant wallet that had remained inactive for almost two years suddenly appeared. The wallet has set fire to its entire holdings, totaling 16,324,455 (16.32M) SHIB in a single transaction.
? 16,324,455 $SHIB -> transferred to dead wallet. https://t.co/HRzFd0T8vl
— Shibburn (@shibburn) May 28, 2023
This massive burning activity has caused the overall SHIB burn rate to skyrocket by 1447.70% over the last day, where 20,533,441 (20.53M) were burned through six separate transactions.
Shiba Inu Community is showing its unwavering commitment to reducing the gigantic supply of SHIB. As reported earlier by The Crypto Basic, Shibburn, the renowned decentralized token-burning project for Shiba Inu, is preparing to launch its highly-anticipated new site in the coming month. The forthcoming platform will feature a cutting-edge burn tracking tool, enabling users to monitor token burns easily. In addition, users will have access to a range of new tools that allow them to earn rewards while actively participating in the burning of Shiba Inu tokens.
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.
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