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HomeCrypto NewsMarketSingle Wallet Burns 207M Shiba Inu As SHIB Price Falls 21%

Single Wallet Burns 207M Shiba Inu As SHIB Price Falls 21%


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Over 211.14 million Shiba Inu (SHIB) burned in the past 24 hours, 207.71 million in a single transaction.

Shiba Inu Community has removed 211,140,844 SHIB from circulation forever through three separate transactions in the past 24 hours.

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This substantial burn marks a significant event for the Shiba Inu Community because a massive burn hasn’t been witnessed since June 4th.

On June 4th, the Community transferred 123,375,116 (123.37M) SHIB to the dead wallet via seven distinct transactions., after that, no significant burn happened til today.

Biggest Burn of the Day

The biggest transaction of the day comes from the wallet associated with Binance, tagged Binance 14. The wallet transferred a whopping 207,715,716 (207.71M) SHIB to the dead wallet in a single transaction. Per Shibburn.com data, the transaction took place about 4 hours ago.

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This massive burn has caused the overall burn rate to increase by 3874.12% compared to the previous day.

Shib Burn Rate Surges in Past 24 Hours
Shib Burn Rate Surges in Past 24 Hours

On the other hand, Shiba Inu has witnessed a 1% increase in its circulating supply as a staggering 4,000,379,151,023 (4T) SHIB were unstaked by the long-term holder and promptly transferred to one of the wallets linked to Binance, tagged Binance 8.

Consequently, Shiba Inu experienced a significant decline in its price today. As of press time, SHIB is trading at $0.000006256, down -21.40% over the last day, with a 24-hour trading volume of $293,276,372 ($293.27M).

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.



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.

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