Mysterious Wallet Burns 111 Million Shiba Inu, 213 Million in 24 Hours as Burn Rate Increases to 99%

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Within the last 24 hours, the Shiba Inu Community burned over 213.06 million Shiba Inu (SHIB). Furthermore, the Shiba Inu token burn rate has increased as one of the mysterious wallets incinerated 111.63M SHIB in two separate transactions.

According to a recent tweet from Shibaburn.com, the Shiba Inu Community has burned a whopping total of 213,067,021 (213.06M) SHIB tokens in 14 separate transactions in the last 24 hours.

Read also: Shiba Inu Burns 582 Million in a Week, 125 Million in 24 Hours

Shiba Inu, the most popular canine-themed cryptocurrency, experienced a burn rate of more than 99% after one mysterious wallet sent a total of 111,635,927 (111.63M) to the “inferno” addresses in two separate transactions.

According to Etherscan data, the mysterious wallet incinerated 61,708,497 (61.70M) SHIB in the first transaction. After a few hours, the same wallet performed a second transaction, permanently removing 49,927,430 (49.92M) SHIB from circulation, according to Etherscan.io.

Shiba Inu is trading at $0.00001319, up 1.65% from the previous day, with a 24-hour trading volume of $404,761,025 ($404.76M).