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HomeCrypto NewsShiba Inu14M Shiba Inu Burnt in 24hrs; 7.37M by Unknown Wallet, Burn Rate...

14M Shiba Inu Burnt in 24hrs; 7.37M by Unknown Wallet, Burn Rate Now 5761%

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In the last 24 hours, over 13.69 million Shiba Inu have been burned, including 7.37 million in a single transaction. Increase in SHIB Burn Rate of 5,761%

Shibburn reported that seven separate transactions took place over the past day to permanently remove a sizeable number of Shiba Inu tokens, or 13,696,795 (13.69M), from circulation.

Shiba Inu removed a zero from the price of SHIB and saw a rise of 11.89%. 

Shiba Inu’s price is $0.00001061, and its 24-hour trading volume is $494,111,199 ($494.11M).

According to the official website of Shibburn.com, the Shiba Inu burn rate increased by 5,761% over the previous day.

The Community may observe a constant increase in the number of tokens being destroyed as the cryptocurrency market keeps improving.

According to Etherscan.io statistics, a significant transaction around 6 hours ago involved an unknown wallet sending 7,376,188 (7.37M) SHIB to a designated “inferno” address, which is used for token burning. 

The wallet has “Zero” SHIB left after the intense burn.

Shiba Inu Overtakes Other Tokens as Most Traded

The Shiba Inu token (SHIB), among the top 100 Ethereum whales, has been the most traded token during the previous 24 hours, according to data from WhaleStats, which also reveals another intriguing pattern. 

This may indicate that significant participants are becoming more speculatively interested in the token.

The top Ethereum holders (whales) currently possess $50,794,729 worth of SHIB in their wallets, making up 2.24% of their total holdings.

As previously mentioned, the Shiba Inu team announced they would present their Metaverse experience at the Southwest Film and TV Festival (SXSW) in Austin, Texas. 

The perception of the token changes in response to this announcement.

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