An unknown wallet has just created a new record by burning a total of 10 billion SHIB, worth $124,300, in a single transaction an hour ago. This transaction marks the most extensive community-led burn in history, the biggest one in a single transaction, and the biggest one since the Burn Portal launch.
Shibburn echoed this transaction update on its official Twitter page.
This most significant burn has driven the SHIB burn rate higher than expected. As a result, the burn rate has surged over 5063% in the last 24 hours.
Before this record-breaking transaction, Etherscan.io data noted that the mysterious wallet had previously sent 1,325,571,332 (1.32B) SHIB, worth $32,346, to the dead wallet in two separate transactions on April 24, 2022, which was the very next day of the SHIB Burn Portal Launch.
The unknown wallet had, so far, burnt a whopping total of 11,325,571,332 (11.32B) SHIB, worth $156,646 in three separate transactions since the launch of SHIB Burn Portal.
Ryoshi Vision Gives Rewards to Active SHIB Burners
When the SHIB Burn Portal went live on 23 April 2022, Shiba Inu developers encouraged the SHIBArmy to keep burning SHIB tokens. Additionally, they promised that rewards would include an official partner token of the Shiba Inu ecosystem.
Yesterday, the promise was fulfilled, and the reward distribution took place. Ryoshi Vision tweeted that Shiba Inu Burn Portal rewards have gone live on ShibaSwap, i.e., Ryoshi Vision has been distributed among SHIB Burners, and from now onwards, every week, SHIB Burners will be rewarded in the same way.
The burning of Shiba Inu has become slow in the past week as SHIB fails to retain its critical support level located at $0.00001717 on the daily chart and slips over 46% to hit the new yearly low prices of $0.0000095.
But the announcement of rewards distribution boosted the confidence of the Shiba Inu Community in the project. This update, in turn, has helped the SHIB Burn Rate to experience a boom drastically in the last 24 hours.
Shibburn.com collaborates that 12,677,017,916 (12.67B) SHIB tokens have been burned through 92 separate transactions in the last 24 hours with the help of the SHIB Burn Portal.
On the other hand, SHIB Burn Portal has become one of the brightest lights for the Shiba Inu ecosystem. Since its launch, the SHIB Army has permanently removed 41,280,074,662 (41.28B) SHIB from circulation in almost one thousand transactions.