Friday, January 27

Shiba Inu Burn Rate Spikes 642.63% As Over 27 Million SHIB Is Burnt

Shiba Inu’s burn rate has been seen over time as the massive amount being sent into the inferno wallet, the recent report revealed that Shiba Inu Community burned a whopping 27.29 Million SHIB in the past 24 hours. The major burn comes from the unknown wallet holding 313.44 Billion SHIB.

Over 27 Million Is Burnt Resulting To Shiba Inu Burn Rate Spike

SHIB Army collectively sent a total of 27,291,662 (27.29M) SHIB to the “inferno” addresses via four separate transactions in the past 24 hours.

Read Also: TerraCVita Releases Whitepaper To Show How Helpful They Can Be To LUNC

However, the mysterious wallet that has a total of 313.44 Billion SHIB in its care has sent the biggest Shiba Inu into the fire over the last 24 hours. The record was captured by etherscan.io, saying that the mysterious wallet destroyed a whopping 24,091,662 (24.09B) SHIB in one significant transaction executed about 10 hours ago from press time.

over 24M SHIB Is Burnt

Furthermore, the mysterious wallet has a total of Shiba Inu worth $2,592,177 ($2.59M).

Consequently, the burn transaction initiated by the whale skyrocketed Shiba Inu’s burn rate to 642.63% over the last 24 hours.

Shiba Inu Burn Rate

It is no doubt that Shiba Inu has sought a way to get the asset’s price to the apex in the crypto industry. At the moment, the Community is thriving in reducing the maximum total supply of SHIB by 410,383,366,182,836 (410.38T) tokens.

Read Also: Terra Classic Burn Rate Spikes Massively As Over 20 Million LUNC Is Incinerated

The current total supply of the world’s second-biggest canine-themed cryptocurrency based on market capitalization currently stands at 589,616,633,817,163 (589.61T). A herculean 26,864,992,645,006 (26.86T) SHIB has been staked by the Community on ShibaSwap, whereas the current circulating supply stands at 562,751,641,172,157 (562.75T).


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