In the last 24 hours, about 26.04 million Shiba Inu (SHIB) have been burned. 23.14 million Shiba Inu were burnt by an unknown Shiba Inu whale holding Shiba Inu worth $3.34 million.
According to Shibburn, a platform that tracks SHIB burn, the community-led SHIB burn campaigns have effectively removed 26,046,094 (26.04M) SHIB tokens from circulation.
An anonymous Shiba Inu wallet holding a significant number of Shiba Inu tokens (293.17 billion) totaling $3,348,055 ($3.34M) carried out a record-breaking burn transaction over the previous day. The aforementioned wallet made a massive transaction involving 23,141,621 (23.14M) SHIB to the “inferno” address. According to the data showed by Etherscan.io, on January 19, 2022, the large burn transaction was carried out precisely at 10:51:59 PM +UTC.
According to reports, on January 12th, a mysterious wallet holding one billion Shiba Inu burned 20 million SHIB; on January 17th, an unidentified wallet burned 36.42 million SHIB in a single transaction; and on January 19th, an anonymous wallet burned 10 million SHIB.
Additionally, Shiba Inu’s performance over the past week has significantly improved, increasing by 20.1%. The rise in pricing follows the development team’s statement that the Layer 2 protocol Shibarium’s beta version would shortly be published. The eagerly anticipated Shibarium – Layer 2 Solution aims to improve the volume of transactions, accelerate them, and lower their cost. This is expected to attract more users and boost the adoption of the SHIB token.
Furthermore, the Shibarium development team has confirmed that every transaction would cause SHIB tokens to be burned, hence decreasing the total quantity of Shiba Inu. The community views this as a good move because it will probably boost the value of the tokens available in circulation.
As previously reported by fxcryptonews, Robinhood has finally made it available to its 1 million waitlisted users, with Shiba Inu supporting its much-anticipated cryptocurrency wallet, Robinhood Wallet.