Shiba Inu Burn Up by 350% as Community Burns 104M+ Tokens in 24 Hours

Shiboshis NFT

In the previous twenty-four hours, eight different transactions totaling 104,441,651 (104.44 million) the Shiba Inu Community made Shiba Inu to the dead wallet.  A single wallet burnt 79.50 million.

Shiba Inu’s burn rate had significantly increased by 350% compared to the previous day when the Community only burned 23,143,589 (23.14 million) SHIB through six separate transactions.

The mysterious wallet and MARSWAP (MSWAP) were the Top SHIB Burners of the Day. The enigmatic wallet is responsible for the largest transaction of the day. In a single transaction, the unidentified wallet moved 79,500,000 (79.50 million) SHIB to the Inferno address. records indicate that the transaction occurred roughly 15 hours ago.

After the burn, the unknown wallet is left with 162,538,341,247 (162.53 billion) SHIB, valued at $1,228,789 ($1.22 million). Shortly after, through five consecutive transactions, the newly-emerged token MARSWAP (MSWAP) removed 12,402,665 (12.40 million) SHIB from circulation. According to the information, the Community has burned 708,766,124 (708.76 million) SHIB in the last week through 59 transactions.

Related Reading: Shiba Inu Lead Developer Shares Exciting Shiboshi Update With Community

New Milestone for Shibarium Beta Testnet 

Puppynet, the Shibarium Beta Testnet, is progressing significantly in crypto as it hits a new milestone. 24,842,706 (24.84 million) transactions have been completed on the network, which currently contains 16,975,058 (16.97 million) wallet addresses. The current number of blocks is 1,450,672 (1.45 million), with an average block time of only 5 seconds.

The permanent trading and financial services platform of Koyo Token (KOY) has also started to be tested on the Shibarium Beta Testnet. Tezza Decentra, a prominent community member, has confirmed the development.

The development is significant since Koyo Token has already used 9.16 billion SHIB in various transactions.

Read Also: Could Lack of Progress on Shibarium Cost Shiba Inu (SHIB) Investors?

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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