Shiba Inu’s burn rate surged in the last 24 hours as over 168 million tokens were taken out of circulation by an unknown wallet. So far, this mysterious wallet has burned 309.50 million SHIBs in the past 48 hours.
Shibburn.com reported that 168,824,571 SHIB tokens were sent to dead wallets via thirty-three transactions in the past day, bringing a total of burned tokens to 410,378,316,599,084 (410.37T), which makes up 41.037% of the initial supply of 1 quadrillion.
Newly Active Wallet Burns Shiba Inu In Six Transactions
According to Etherscan.io, the unknown wallet became active on August 23, 2022, and has burned 309,501,863 SHIBs in six transactions. Additionally, the wallet took out 97,548,042 (97.54M) SHIB tokens in two transactions during the last 24 hours.
In the first transaction, the mysterious wallet destroyed 48,569,778 (48.56M) SHIB. After a few hours, the same wallet performed another transaction and wiped out another 48,978,264 (48.97M) SHIB tokens from circulation.
On August 23rd, the mysterious wallet sent 111,635,927 (111.63M) SHIB to the dead wallet in two separate transactions. Then, on August 24th, the wallet carried two more transactions and permanently moved out 100,317,894 (100.31M) SHIB from circulation.