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HomeCrypto NewsMarketWallet Dormant Since 2021 Burns 77M Shiba Inu, 109M Shib Burned in 24 Hours

Wallet Dormant Since 2021 Burns 77M Shiba Inu, 109M Shib Burned in 24 Hours


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Over 109.12 million Shiba Inu (SHIB) burned in the past 24 hours, 77.52 million in a single transaction.

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Shiba Inu Community has permanently removed 109,125,819 (109.12 million) SHIB from circulation in the past 24 hours. The burn took place through nine separate transactions.

The highlight of this burn spree was a massive transaction originating from a dormant wallet that had remained inactive since October 27th, 2021. About an hour ago, the wallet sprang to life and transferred its holding of 77,524,940 (77.52 million) SHIB tokens to a dead wallet in a single transaction.

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Dormant Wallet Burned 7752 Million SHIB
Dormant Wallet Burned 7752 Million SHIB

Besides the above transaction, one wallet contributed to the 24H burn by eliminating 15,056,224 (15.05 million) SHIB tokens from circulation in one robust transaction.

This surge in burn activity has caused the overall SHIB burn rate to rise by 234.73% within the past 24 hours. On Tuesday, July 18th, Shiba Inu Community set fire to 35,140,414 (35.14 million) SHIB through nine individual transactions.

Excitement is brewing within the community as they speculate that the burn rate will increase with the launch of the much-awaited Shibarium – Layer 2 solution. Enthusiasts even envision a burn rate of 5 trillion SHIB tokens per month.

The official launch of Shibarium is scheduled to take place at the upcoming Blockchain Futurist Conference on August 15th and 16th. In addition, Shytoshi Kusama, the lead developer of Shiba Inu, has informed community members to expect more exciting developments following the mainnet launch of Shibarium, as reported by The Crypto Basic.

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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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