Shiba Inu Burn Rate up 30,000% as 1.5 Billion SHIB Get Burned

The Shiba Inu (SHIB) token burn rate has experienced a staggering 30,000% increase after a massive 1.5 billion SHIB tokens were burned recently. This unexpected spike in the burn rate comes amid a recovering cryptocurrency market and could be an indication of a resurgence in network activity.

Timeline of Shiba-inu

Shiba Inu-related address sent nearly 1.5 billion SHIB tokens to the dead wallet address on Friday, marking one of the largest single transaction burns recorded in the history of SHIB burn. The latest burn came from Koyo Token, decentralized finance (DeFi) project on the ShibaSwapDEX.

The 19th biggest Shiba Inu (CRYPTO: SHIB) whale has purchased a staggering 171.68 billion SHIB, worth a total of $1.88 million, through four separate transactions. What Happened: The buying spree kicked off on Thursday with a purchase of 38.83 billion SHIB, worth $426,407, from the Binance-associated wallet “Binance 14,” according to Etherscan.io.

Shiba Inu's Shibarium testnet has been on a steady growth trajectory, with exciting new milestones being achieved. The recent breakthrough of over 3 million wallets and a surge in Open Interest and Funding Rates have sparked anticipation of a possible SHIB price surge, making it a promising opportunity for investors seeking profitable returns.

A massive whale in the ecosystem of the meme-inspired cryptocurrency Shiba Inu ($SHIB) has expanded its portfolio to nearly 5 trillion tokens after adding an additional 171.68 billion SHIB for around $1.88 million through four different transactions.

In a recent turn of events, Shiba Inu (SHIB) has seen a notable increase in the selling of tokens held by short-term holders. The age of tokens sold yesterday dropped to just one month, a stark contrast to the six-month average observed a few days ago.

According to blockchain data, Shibarium's Puppynet beta testnet appears to have captivated the community behind the meme-inspired cryptocurrency Shiba Inu ($SHIB), registering over 550,000 wallet addresses and processing over 2.5 million transactions in just three weeks. At the time of writing, blockchain statistics indicated that approximately 2.

Data provided by puppyscan.shib.io shows that there has been a gigantic spike in wallet addresses connected to the Shibarium testnet called Puppynet. This almost 10x surge has taken place over the past day.

Shiba Inu's lead, Shytoshi Kusama, might be hinting at a game-changing move for the project. Kusama, who is known to often speak allegorically, says in a tweet that he is moving a few chess pieces.

Shibarium's Puppynet beta testnet has seemingly captivated the community behind the meme-inspired cryptocurrency Shiba Inu ($SHIB), registering over 550,000 wallet addresses and processing in excess of 2.5 million transactions within a mere three weeks since its inception, according to blockchain data. At the time of writing, blockchain data shows that around 2.

The Shiba Inu community continues its burn spree, with approximately 35 million SHIB burned in one day. According to the update from Shibburn, 25 million of the total burned tokens came from a single wallet.