Burning the Trail: Shiba Inu Community Sets Fire to Over 100 Million Tokens in 24 Hours

Jun. 28, 2023
Burning the Trail: Shiba Inu Community Sets Fire to Over 100 Million Tokens in 24 Hours

Surprisingly, the Shiba Inu community has set the crypto world abuzz by transferring a staggering 104,441,651 Shiba Inu tokens to a dead wallet in a series of eight separate transactions within just 24 hours.

This represents an astounding 350% increase in the burn rate compared to the previous day, during which a mere 23.14 million SHIBs were burned through six individual transactions.  

Among the notable burners, a mysterious wallet and the newly emerged MARSWAP (MSWAP) token have beveled and executed the mysterious wallet exlargest transaction of the day, sending a jaw-dropping 79.50 million address in a transfer.

The identity behind the intrigue of the trade. According to Shibburn.com, the transaction occurred approximately 15 hours ago, leaving the mysterious wallet with 162.53 billion SHIB, equivalent to $1.22 million.

Following closely behind, MARSWAP (MSWAP) made its mark by removing 12.40 million SHIB from circulation through five consecutive transactions.

The token’s emergence has piqued the curiosity of the SHIB community as it swiftly gains recognition for its active participation in reducing the token supply.

Shiba Inu Community Sets Fire To 708.76 Million SHIB In A Week

Over the past week, the Shiba Inu community has been on a relentless burning spree, torching 708.76 million SHIB through an impressive count of sixty-nine particular transactions.

Moreover, this concerted effort by the community signals a strong commitment to reducing the token’s supply and potentially increasing its value.

Shibarium Beta Testnet, also known as Puppynet, has achieved a significant milestone in crypto, hosting an impressive 16.97 million wallet addresses and processing a whopping 24.84 million transactions.

The total number of blocks is 1.45 million, boasting an average block time of 5 seconds. These advancements highlight the growing importance of the Shibarium Beta Testnet and its potential impact on the Shiba Inu ecosystem.

The recent surge in burn rates, the involvement of mysterious wallets, and the continuous advancements on Shibarium Beta Testnet showcase the ever-evolving landscape of the Shiba Inu community.

However, as these developments unfold, it will be fascinating to witness their impact on the future of the Shiba Inu token and its growing ecosystem.

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Ammar Raza

Associate editor
Skilled in crafting compelling content, with a deep enthusiasm for blockchain technology. I offer precise and easily comprehensible perspectives on cryptocurrencies, decentralized finance, and the ever-evolving landscape. Count on me as a reliable resource to remain informed about the latest advancements in the world of crypto.