Enormous 45,083% SHIB Burn Surge Detected as SHIB Whales’ Activity Soars
Shibburn wallet tracker has identified a significant surge in the burn rate of Shiba Inu coins, with hundreds of millions of SHIB meme coins being taken out of circulation. As this considerable amount of Shiba Inu is being incinerated, several massive SHIB whales have been observed moving billions and trillions of meme coins.
SHIB burn rate reaches unprecedented heights
According to recent data from the previously mentioned source, the Shiba Inu community managed to burn a total of 235,603,488 SHIB within the last 24 hours. This amount of meme cryptocurrency is valued at a mere $2,482 in fiat. The burn rate increased by a staggering 48,083.50%, a figure that has not been seen frequently in recent weeks. This impressive surge in burns was achieved through sixteen transactions, with the majority of SHIB being burned in a single move as 220,729,973 Shiba Inu coins were sent to an unspendable blockchain wallet. The second largest SHIB transaction involved 13,140,241 meme coins, while others contained less than 1 million SHIB.
The SHIB community is making a concerted effort to burn as much SHIB as possible, as a substantial burn is expected to have a positive impact on the coin’s price. Recently, Shiba Inu Discord admin DaVinci stated that all the funds for burning SHIB must come from users, whether it be transaction fees on Shibarium or individual burns. The SHIB developer team has also been burning massive quantities of SHIB coins, with approximately 8.5 billion Shiba Inu coins burned in December and the last week of November, totaling over 36 billion SHIB.
Whales make massive SHIB transfers
Cryptocurrency tracker Whale Alert reported a significant SHIB transfer between anonymous wallets, with a total of 4,253,619,279,051 SHIB meme coins changing hands. This amount of SHIB was valued at $44,909,712 at the time of the transfer, which occurred less than 24 hours ago. Additionally, Arkham Intelligence’s on-chain data platform revealed that a whale received an impressive 417.138 billion SHIB from an anonymous wallet, worth $4.43 million in fiat. These transfers indicate a growing interest among cryptocurrency whales in Shiba Inu.