$SHIB Burn Rate Soars 39K% After Wallet Burns 1.69B
Shibburn said a whale in the $SHIB crypto world took out 1.69 billion tokens in one go. This made the burn rate go up by 38,986.28% in one day.
More SHIB tokens were burned recently, as 1.34 million were burned the day before. This is the third-biggest burn of the week so far. The biggest burns were from the CultPunks NFT project and another mystery wallet that burned tokens two days before.
CultPunks creator sent a lot of tokens to a dead wallet. This happened recently. The reason was to burn tokens. The wallet burned 2 billion tokens before this.
The Shiba Inu community has taken out almost 4 billion tokens by doing various transactions. They burned 3.26 billion tokens in one month through 125 transactions, as reported by CryptoGlobe.
In March, lots of SHIB tokens were burned. It was 6.78 billion tokens. There were 540 different transactions. This month, less tokens were burned. It's a big decrease.
They destroyed 410.63 trillion tokens from 1 quadrillion since the meme-inspired cryptocurrency inception. Last month, Koyo token project destroyed 1.49 billion tokens in a single transaction.
Shytoshi Kusama talks about Shiba Inu price and burns. He's the lead developer. He says burns cannot make the price go up by themselves. More burns are necessary to change the price. He shares his thoughts on Telegram.
The Shiba Inu team is making new technologies and utilities to help SHIB adoption. Kusama thinks that this is the only way to make SHIB prices go up. They want SHIB to be popular.
A very big SHIB whale just bought more tokens. They now have 5 trillion in total. The whale bought 171.68 billion SHIB for $1.88 million. They did this in four separate deals.
A lot of SHIB tokens are now with long-term investors, says IntoTheBlock's data. This shows that the token is gaining popularity among those who like to invest for a longer duration.
The burn rate for Shiba Inu surged by 39,000%. A wallet burned 1.69 billion $SHIB. This caused the mysterious event. It made the burn rate skyrocket. This is big news for the cryptocurrency world.
The author's views and opinions are for information only. They don't give financial advice. Crypto investing has risks. You can lose money.
