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In a recent turn of events, data shared by the Shibburn tracker shows that with the past 24 hours, the major metric of the SHIB supply shrinking has soared by a three-digit number, with millions of meme coins destroyed permanently. Almost all of the SHIB mentioned in the report were burned by a mysterious Shiba Inu whale, according to Shibburn and Etherscan data.
This happened while the second largest meme cryptocurrency by market capitalization size, SHIB, has again attempted to break out of the price range it has been moving in recently.
Burn rate jumps 305% as enigmatic whale steps in
According to the above-mentioned data source, within the last 24 hours, the Shiba Inu community has succeeded in disposing of 98,045,035 SHIB meme coins, driving the overall daily burn rate up by 304.98%.
This massive SHIB burn milestone was achieved through 10 transactions, which moved the meme coins to unspendable blockchain wallets. However, the majority of the aforesaid SHIB was destroyed in a single transfer carrying 91,102,596 SHIB. It was made by a mysterious cryptocurrency whale, which both Shibburn and Etherscan failed to identify.
As for the weekly burns, here the burn rate is also on the rise, soaring by 82.66%, according to a recent tweet published by the SHIB burn tracker. Overall, in the past seven days, the community has transferred a massive 330,335,592 SHIB to unspendable wallets.
Still, despite the constant burns, the overall SHIB supply remains practically unchanged and constitutes 589,275,241,204,667 SHIB meme coins. A total of 410,724,758,795,332 SHIB have been locked in dead-end wallets already, and 6,536,456,176,031 SHIB have been locked in staking wallets on various exchanges and DeFi platforms.
700 billion SHIB purchased by whale
Popular blockchain sleuth Whale Alert, which tracks large cryptocurrency transfers, has come up with a tweet about an astounding amount of almost 700 billion SHIB moved from top exchange Crypto.com.
The 692,400,000,000 SHIB were withdrawn by a mysterious whale to a private wallet, after spending $19,260,837 in fiat on that massive SHIB chunk. According to Etherscan, this was a brand new wallet with only three transactions performed in total.
The community was fascinated by this enormous transaction as they published comments, attempting to guess who stands behind this multi-hundred-billion SHIB transfer.
Gamza Khanzadaev
Arman Shirinyan
