Unknown Wallet Burns 36.42M Shiba Inu in One Transaction

Over 36.42 Million Shiba Inu (SHIB) has been burned by the Mysterious Wallet in a Single Transaction.

Shibburn.com recently reported a transfer of a whopping 36,423,403 (36.42M) SHIB to the dead wallet in one significant transaction in the past hour.

? 36,423,403 $SHIB -> transferred to dead wallet. https://t.co/b5ey704Jdv

— Shibburn (@shibburn) January 17, 2023

As per data provided by Etherscan.io, the transfer is made by the newly created wallet that bought a large number of tokens, totaling 36.42 Million Shiba Inu about two hours ago in a single transaction from one of the wallets linked with Seychelles-based cryptocurrency exchange, KuCoin tagged “KuCoin 9”. Soon after the purchase, the wallet transferred all of the accumulated tokens to the “Null address” and now holds ZERO SHIB.

Single Wallet Burned 36.42 Million SHIB

The massive SHIB Burn transaction caused the overall SHIB Burn rate to jump by 44.63% over the last day.

Shiba Inu Burn Rate Jumped 44.63 Percent Over the Last Day

On the other hand, the Shiba Inu team announced that each and every transaction executed on Shibarium Network will burn Shiba Inu. Additionally, the team confirmed that they are working on the renewed SHIB Burn Portal specifically for the Shibarium Network which will be available for use soon after the launch of the much-awaited Shibarium Beta.

As reported earlier by The Crypto Basic, the Bugatti Group and the Shiba Inu team have joined forces to launch a Major Giveaway event aimed at Shiba Inu Community. Participants will have the chance to win a unique prize package that includes a custom-designed Shiba Inu X Bugatti NFT, as well as a piece of luxury luggage worth $300.

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