Last updated on May 18th, 2024 at 11:57 am
Dormant Shiba Inu whale returns from a 2 years hiatus and burns over 77 million SHIB tokens, raising the total amount of SHIB burned in the last 24 hours to 112.9 million. According to reports from Shiba Inu burn tracking website – Shibburn, the SHIB community has succeded in burning a significant amount of the meme token in the last day.
Meanwhile, the majority of the Shiba Inu within the total amount was destroyed in a single transaction that moved 77,524,940 SHIB to a dead wallet about 9 hours ago from the time of writing. These burn has helped raised the SHIB burn rate to 316.91%.
Source: Shibburn
Furthermore, reports from Etherscan show that this same wallet has only made 3 transactions in its lifetime with the very first one performed about 813 days 23 hrs ago (approximately 2 years 2 months ago) from Coinex crypto exchange to an unknown wallet.
Source: Etherscan
Related Reading: Nearly 2 Million BNB Tokens Burned in Binance Quarterly Burn Schedule
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The Shiba Inu community has succeded in burning 1,969,636,885.18 (1.9 billion) SHIB tokens over the past 30 days according to a separate update from CryptEye – a cryptocurrency insight provider.
Within the first half of 2023, Shiba Inu Army has managed to destroy a massive 26,457,627,807.82 (26 billion) SHIB tokens. In addition, the Shibarium mainnet is tentatively expected to launch in August 2023, and this event will likely trigger larger Shiba Inu burns.
Gas fees on the Shibarium network will be paid with BONE. A portion of the BONE fees will be converted into SHIB and distributed to deceased wallets. The Shiba Inu community is expected to burn trillions of Shiba Inu each week.
Top 10 Single Burn Transactions For SHIB
Meanwhile, in a July 18 tweet, Shibburn posted the list of the top 10 SHIB burn transactions of all time. Interestingly, the majority of the transactions were carried out in 2021. Recall that in 2021, Shiba Inu reached an all-time high (ATH) of $0.00008845.
Top 10 Single Burn Transactions For $SHIB
1.🔥🔥🔥🔥🔥 410,241,996,771,871 $SHIB
Value on day of transfer: $7,354,272,830
Current value: $3,154,760,955
Date: May-16-2021
From: 0xAb5801a7D398351b8bE11C439e05C5B3259aeC9B
TX:…— Shibburn (@shibburn) July 18, 2023
See the list below:
- 410,241,996,771,871 (410 trillion) SHIB. Date: May-16-2021
- 60,258,639,169 (60 billion) SHIB. Date: Apr-07-2021
- 26,981,871,357 (26 billion) SHIB. Date: Sep-26-2020
- 19,940,129,816 (19 billion) SHIB. Date: Apr-05-2021
- 17,797,465,961 (17 billion) SHIB. Date: Apr-27-2021
- 17,000,000,000 (17 billion) SHIB. Date: May-18-2021
- 15,678,987,386 (15 billion) SHIB. Date: Feb-03-2021
- 12,000,000,000 (12 billion) SHIB. Date: Jul-06-2021
- 10,000,000,000 (10 billion) SHIB. Date: May-18-2022
- 6,757,888,485 (6 billion) SHIB. Date: Sep-10-2021
Observe that each of them except #10 burned at least 10 billion Shiba Inu tokens.
Shiba Inu (SHIB) price today
According to live data from CoinMarketCap, the price of Shiba Inu today is $0.0000076. The price is down 0.30% in the last 24 hours. What’s more, Shiba Inu is ranked #19 on the CoinMarketCap chart with a live market cap of $4,529,785,286 ($4 billion).
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.