Shiba Inu Price Surges After 52.28M SHIB Gets Burnt in a Single Day

Shiba Inu has burned almost 52.28 million in the last 24 hours, making SHIB the top gainer among the top 20 cryptocurrencies.

In the last 24 hours, 15 different transactions totaling 52,280,070 (52.28M) SHIB were made by the Shiba Inu Community to a wallet that is no longer usable, sometimes known as a “dead” wallet.

In the past 24 hours, there have been a total of 52,280,070 $SHIB tokens burned and 15 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) January 18, 2023

As previously reported, a significant sum of Shiba Inu was destroyed via an unidentified wallet. An astonishing 36,423,403 (36.42M) SHIB were transferred by the wallet in a single transaction to the “inferno” address, making them worthless indefinitely.

Read article: Shiba Inu is Now Third-Best Performing Project; Rises by 21%

Market Performance and Price Rise for Shiba Inu

Shiba Inu has one of the best performances among the top 20 cryptocurrencies after seeing a considerable increase in value over the last 24 hours. With a trading volume of $823,503,561 ($823.50M) over the last 24 hours, the price of Shiba Inu is currently $0.00001257, up 19.82% from the previous day.

SHIB is now one of the major cryptocurrencies in the world, surpassing Litecoin (LTC) and Polkadot (DOT) in terms of market capitalization and rising to the 12th position.

Additionally, according to data from WhaleStats, SHIB has emerged as the token that is exchanged the most frequently among the top 100 largest ETH whales. Regarding trading activity among these significant holders, it has surpassed Curve DAO Token (CRV).

📰 JUST IN: $SHIB @Shibtoken flipped $CRV for MOST TRADED token among top 100 #ETH whales

Check the top 100 whales here: https://t.co/N5qqsCAH8j

(and hodl $BBW to see data for the top 5000!)#SHIB #CRV #whalestats #babywhale #BBW pic.twitter.com/9A2bKL3UDu
— WhaleStats (tracking crypto whales) (@WhaleStats) January 18, 2023

Olasunkanmi Abudu

Olasunkanmi Abudu is a Web3 content writer with over five years of experience covering blockchain, decentralized finance, and digital assets. He specializes in producing well-researched and accessible content that explains complex technologies and market trends to both general readers and industry professionals.

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.