Shiba Inu Burn Rate Surges 155% with Over 208 Million SHIB Sent to Dead Wallet


The burn rate of Shiba Inu has considerably increased over the last 24 hours. A portion—that is 112,647,175 SHIB tokens—were destroyed and more than 15 transactions were reported by the Shibburn Twitter account a little over nine hours ago. This number is currently rising.

According to the Shibburn website, 208 million Shib have been burned as of the time of publication, with a 155% rise in the Shib burn rate.

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Shib burn rate, Courtesy: Shibburn

According to the Shib burn Twitter account, an astounding 86,405,616 SHIB were just sent to dead wallets in a single transaction in the last hour.

Shiba Inu’s large transactions jump 153%

Shiba Inu whales, or large holders, joined in the action as large transactions increased by 153% in the past day, according to statistics from IntoTheBlock. A transaction is often more than $100,000, and large transaction spikes are sometimes associated with increased activity from whales who are either buying or selling.

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The analysis of the top 100 Shiba Inu holders by WhaleStats also revealed a 6.8% increase in the average Shiba Inu balance as a result of crypto whales dealing with billions of Shiba Inu and a rise in large transactions. In the past day, the average Shib value has also increased by 9.4%.

According to WhaleStats, SHIB has returned among the top 10 purchased tokens among the 1,000 biggest ETH whales, who now “hodl” $592,950,692 worth of SHIB.

As the lead Shiba Inu developer Shytoshi Kusama posted that he would soon share a Medium blogpost with the Shiba Inu community, anticipation is growing.

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Shiba Inu was down 1.45% at $0.00001 at the time of publication, according to CoinMarketCap.




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