SHIB Burns Skyrocket 1,664% Thanks to Big Whale — 250 Million SHIB Gone

Update on the Shibburn tracker’s website shows an immense increase in the SHIB burn rate since last morning.

Along with that, several hundred million Shiba Inu coins have been sent to “inferno” wallets. That became possible thanks to the participation of an unknown whale who likes to burn huge sums of Shiba Inu.

Stunning SHIB lump turned to ashes, burn rate spikes

The above-mentioned data source revealed that over the time span of the last 24 hours, the SHIB burn rate skyrocketed by massive 1,664.70%. Overall, the SHIB community succeeded in disposing of 250,898,588 Shiba Inu meme coins.

Still, this huge rise would not have happened if it were not for a whale who transacted 250,000,000 to an unspendable blockchain address. According to Etherscan, this is not the first time he has done such a mammoth SHIB burn single-handedly.

Etherscan identifies that whale as “itdsafe.eth.” Six days ago, he made his first burn, setting virtual fire to 250,000,000 SHIB as well. This means, this wallet owner has removed half a billion Shiba Inu coins from the circulating supply.

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Fundamental BONE Statement Issued by SHIB Team

Yuri Molchan

SHIB exec defends Shiba Inu against DOGE, WIF, PEPE

Shiba Inu marketing lead who uses the pseudonym Lucie took to her X account to slam major meme coins, dwarfing them against Shiba Inu. Lucie stated that comparing “any token to SHIB with only the bare minimum achieved” is laughable.

Lucie made it clear that SHIB has become successful not only because there are “SHIB people behind it” but also because the developer team has made a solid focus on BONE, LEASH, Shiba Inu metaverse and various NFT projects on Shibarium, such as Shiboshis.

Lucie called her tweet a reaction to posts that she has been reading in large numbers on the X platform. She referred to them as “too much nonsense.”

“Focus on statistics and blockchain data—the rest is just noise,” she added to conclude her tweet.

Still, according to a recent post by @lookonchain, SHIB has been losing in liquidity figures on decentralized exchanges (DEXs) to other popular meme coins — PEPE, WIF, BabyDoge, Floki and half a dozen others. Dogecoin and Shiba Inu are not on that list.