Shibburn.com reports the largest burn event in weeks as Shiba Inu Community permanently removes 341.50 million SHIB from circulation through five transactions.
In a remarkable feat, the Shiba Inu Community has successfully eliminated a staggering 341.50 million SHIB from circulation in the past day. This latest burn event, accomplished through five separate transactions, marks a significant milestone for the community.
Koyo Token (KOY) and a previously inactive wallet emerge as the top burners, contributing to the substantial reduction of SHIB supply.
Koyo Token (KOY) led the burners and executed an awe-inspiring single transaction, transferring a massive 252.87 million SHIB to a dead wallet. This significant act further solidifies the community-driven project’s commitment to supporting the ecosystem.
Shortly after KOY’s impressive burn, a mysterious wallet resurfaced after nearly two years of inactivity. Surprising everyone, the wallet promptly sent its entire holdings of 84.40 million SHIB to the inferno address in one fell swoop.
SHIBA INU (SHIB) Unprecedented Surge In Burn Rate
The recent burn event causes an unprecedented surge in the overall burn rate, skyrocketing by 6936.88% within a day.
With the combined efforts of the Shiba Inu Community, the overall burn rate has experienced an astonishing 6936.88% surge in the past 24 hours. This unprecedented spike in burning activity demonstrates the dedication and unity within the SHIB community.
Shiba Inu Climbs The Ranks
SHIB’s value surges by 13%, propelling it to become the world’s 14th largest cryptocurrency by market capitalization while outperforming DAI, WBTC, and TON.
Following this notable burn event, Shiba Inu has witnessed a remarkable 13% increase in value. This surge in price catapulted SHIB to become the 14th largest cryptocurrency by market capitalization, surpassing competitors such as DAI, WBTC, and TON.
As of press time, Shiba Inu is valued at $0.000008301 per token and maintains a robust 24-hour trading volume of $249.31 million. With the remarkable burn event fueling its market capitalization, SHIB now stands at an impressive $4.86 billion.