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HomeCrypto NewsMarket59M Shiba Inu Burned in One Transaction, 74M in 24 Hours

59M Shiba Inu Burned in One Transaction, 74M in 24 Hours


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Over 73.97 million Shiba Inu (SHIB) burned in the past 24 hours, 59.97 million in a single transaction.

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Shiba Inu Community has managed to transfer 73,972,026 (73.97 million) SHIB to the dead wallet through three separate transactions in the past 24 hours.

This represents a notable 304.73% increase in burn rate compared to the previous day, where a mere 18,276,932 (18.27 million) SHIB were taken out of circulation via five individual transactions.

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The biggest burn of the day comes from a newly emerged token named MARSWAP (MSWAP). MSWAP sent 59,972,026 (59.97 million) SHIB to the Inferno address in a single transaction. Per Shibburn.com data, the transaction occurred exactly at 04:50:59 AM +UTC on July 4.

Mysterious Wallet

Shortly after, the mysterious wallet set fire to 13,000,000 (13 million) SHIB in one transaction. The said wallet still holds 114,060,937 (114.06 million) SHIB, worth $881 in his wallet. This indicates the potential SHIB burn may occur in the coming days or weeks.

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Weekly and Monthly Burns

Shibburn.com data reveals that the burn rate of Shiba Inu declined -78.5% this week as the Community was able to move out 239,345,340 (239.34 million) SHIB from circulation in the past seven days.

As reported earlier by The Crypto Basic, the Community destroyed only 1,653,845,435 (1.65 billion) SHIB in June compared to 15B SHIB burned in May.

Amidst the intense burn activity, the 20th biggest SHIB Whale accumulated 157,724,055,879 (157.72 billion) SHIB, worth $1,220,784 ($1.22 million) in a single transaction on Tuesday, July 4.

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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.



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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