61 Million Burned In 24 Hours As Two Strange Wallet Burn 45 Million Shiba Inu (SHIB)

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Just One Transaction Burns 21M Shiba Inu in 24 Hours
Just One Transaction Burns 21M Shiba Inu in 24 Hours

In the last 24 hours, the Shiba Inu Community has destroyed another 61.16 million SHIB. In two separate transactions, two mysterious wallets burned 45.80 million SHIB. SHIB Burn Rate has increased by 99.35% in the last day.

Despite the bearish market conditions, the community-led Burn Initiatives remain dedicated to minimizing the massive supply of Shiba Inu (SHIB).

The world’s first SHIB-only SHIB burn Project, Shibburn.com, recently reported that the SHIB- Army had removed another 61,169,479 (61.16M) SHIB from circulation. 

Related: Shiba Inu Burn Rate Jumps 800% High As ETH Whales Top-Up SHIB Holding

By sending 45.80 Million Shiba Inu to the dead wallet in two separate transactions, two mysterious wallets added fuel to the blaze and increased the SHIB Burn Rate.

According to Shibburn.com, the day’s largest burn occurred about 17 hours ago. In one transaction, one of the mysterious wallets burned 21,464,117 (21.46M) SHIB. Several moments later, another mysterious significant burn transaction arrived from a separate wallet, permanently destroying 24,336,644 (24.33M) SHIB.

As a result of this massive burn, the Shiba Inu Burn rate spikes 99.35% over the last day.

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Shiba Inu, the world’s most popular canine-themed cryptocurrency, is struggling to find support due to the global crypto market’s widespread selloff. Despite positive developments in the ecosystem, such as the potential release of Shiba Inu Collectible Card Games dubbed “Shiba Eternity,” that doesn’t appear to aid in the healing process.

Shiba Inu is trading at $0.00001091, down 4.0% from the previous day, with a 24-hour trading volume of $264,237,026 ($264.23M). On the other hand, the global cryptocurrency market cap is currently $916.82 billion, down 5.79% over the last day, with a 24-hour trading volume of $90.39 billion.

Read more: Galion – A Top Ethereum Whale Has Now Added 272 Billion Shiba Inu