In the last 24 hours, the Shiba Inu Community has made a remarkable achievement by jointly transferring an enormous amount of 602,601,936 (602.60M) SHIB to a dead wallet using three separate transactions.
About 19 hours ago, KoyoToken, a recently established token, conducted a transaction where they destroyed a massive amount of 591,926,555 (591.92M) SHIB. This action led to a significant reduction in the total supply of SHIB.
According to information from Etherscan.io, KoyoToken was created approximately a week ago, and within that short period, it has executed numerous transactions, resulting in the destruction of an astonishing 3,255,967,237 (3.25B) SHIB.
SHIB Super Store
Around 12 hours ago, the popular SHIB burn project, SHIB Super Store, carried out a substantial transaction that permanently eliminated 10,582,010 (10.58M) SHIB from the cryptocurrency’s total supply.
The recent significant burning of SHIB has resulted in an enormous increase of 2452.51% in Shiba Inu’s burn rate compared to the previous day. During the previous day, only 23,511,138 (23.51M) SHIB was removed from the total supply through three separate transactions.
Along with the remarkable burning activity, the Shiba Inu Ecosystem is undergoing several advancements. According to a previous report, the Shiba Inu team has finally released the highly anticipated Shibarium Public Beta testnet, causing great enthusiasm among the Shiba Inu Community.
Read more: 485 Million Shiba Inu Tokens Mysteriously Burnt
After the announcement, a prominent Ethereum whale named “BlueWhale0073” became active in the market and purchased a massive amount of 215.81 billion SHIB tokens, worth around $2.20 million in a single transaction. This whale has been accumulating SHIB tokens for the past ten days and has acquired over 674 billion SHIB in total during that period.
Gate Group, the parent company of the popular cryptocurrency exchange Gate.io, has announced its plans to introduce the Gate Visa debit card in Europe. The card will allow users to make purchases with Shiba Inu (SHIB) and other cryptocurrencies at any of the 80 million merchant stores that accept Visa.