In a recent development shared by Shibburn on its Twitter handle, saying that almost 21,000,000 SHIB has been incinerated in nothing less than one transaction over the past 24 hours.
Although the initiator of the massive burn was later known after a thorough investigation.
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The initiator of the transaction was not known at the instant of the reaction but was later known upon thorough investigation. After investigation, the transaction was traced to 1CENT, one of the Community-led initiatives that help in the burning of the SHIB token.
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1CENT Burns 21,000,000 SHIB Over The Past 24 Hours
It is worth noting that 1CENT shared the update on its Twitter handle, revealing that it has set a massive 20.9 million SHIB on fire.
Notably, the community initiative has been consistently burning SHIB since March 14th, 2022, and the recent transaction places the total SHIB burn by the token at a whopping 3,426,513,566 (3.42B) SHIB points, worth $31,256 through multiple transactions.
The recent burn in the Shiba Inu community has been encouraging so far, as the effect of the burn has been significant on the SHIB burn rate. For instance, a recent development revealed that a total of 26,248,144 (26.24M) SHIB was destroyed by the SHIB Army and the SHIB Burn rate spiked by over 299.43%.
At the time of writing, Shiba Inu is trading at the price of $0.000009123, up 4.19% over the last day, with a 24-hour trading volume of $236,525,728 ($236.52M).