Someone Burns 1.69 Billion Shiba Inu, Burn Rate Up 39K%

Shiba Inu witnessed an eye-popping increase in burn rate as the mysterious wallet burned over 1.69 billion Shiba Inu in one transaction.

Shibburn.com recently reported that the mysterious wallet had removed a record 1,695,572,371 (1.69B) SHIB from circulation forever in a single transaction executed about an hour ago from press time.

??? 1,695,572,371 $SHIB -> transferred to dead wallet. https://t.co/SZgLMe0b8J

— Shibburn (@shibburn) May 5, 2023

This move has caused a massive 38,986.28% increase in SHIB’s burn rate over the past 24 hours, dwarfing yesterday’s single transaction burn of 1,345,000 (1.34M).

Shiba Inu Burn Rate Skyrockets in the Past 24 Hours

This marks the third-largest burn transaction of the week, following the monumental burn events from the NFT project CultPunks and the mysterious wallet just two days ago.

As reported by The Crypto Basic, the creator of CultPunks sent a massive 246,743,138 (246.74M) SHIB to the dead wallet in a single transaction on 3rd May.

The mysterious wallet reduced the supply of SHIB even further by burning 2,005,265,274 (2B) tokens in another transaction on 2nd May.

Shiba Inu Community has removed a colossal 3,982,511,590 (3.98B) SHIB through multiple transactions in the past seven days.

On the other hand, the Whales’ appetite for Shiba Inu continues to grow. Recently, the major Shiba Inu Whale added a mammoth 221,728,858,780 (221.72M) SHIB, worth $2,232,809 ($2.23M) to her wallet in a single transaction.

As of press time, Shiba Inu is trading at $0.000009945, down -1% over the last day, with a 24-hour trading volume of $94,686,091 ($94.68M).

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