30M Shiba Inu Burnt In 1 Transaction, Burn Rate Spikes 800%

Anonymous November 25, 2022

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Single wallet burned 30M Shiba Inu.

Over 34.20 Million Shiba Inu (SHIB) has been removed from circulation forever in 24 hours, 30 Million SHIB in a single transaction. Shiba Inu’s Burn Rate skyrockets 820.84% over the last day.

Shiba Inu Community has made three burn transactions in the past 24 hours and destroyed 34,203,073 (34.20M) SHIB.

As per the report, the mysterious wallet burned a whopping 30,000,000 (30M) SHIB in one significant transaction.

The massive burn transaction was executed about 2 hours ago, as per Etherscan.io.

Mysterious Wallet Burned 30 Million SHIB

Moreover, the said transaction caused Shiba Inu’s burn rate to surge 820.84% over the last day when the Community-led burn initiatives were able to reduce the SHIB circulating supply by only 3,714,331 (3.71M) tokens.

Despite the widespread selloff in the global crypto market, Shiba Inu successfully defended its crucial support level located at $0.0000093 on the daily chart.

At press time, Shiba Inu is trading at the price of $0.00001014, up 5.34% over the last day, with a 24-hour trading volume of $464,288,364 ($464.28M).

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of TheCryptoArea. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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