Over 47.44 Million Shiba Inu (SHIB) burned in the past 24 hours, 23.61 Million by a single wallet.
As per burn stats, Shiba Inu Community collectively removed a whopping 47,440,894 (47.44M) SHIB from circulation by sending coins to the “inferno” addresses via eleven separate transactions in the past 24 hours.
In the past 24 hours, there have been a total of 47,440,894 $SHIB tokens burned and 11 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) December 17, 2022
The mysterious wallet that remained dormant since December 2021 burned 23.61 Million SHIB in a single transaction.
Etherscan.io reports that the wallet that remained inactive since December 2021 suddenly woke up about 14 hours ago from press time and transferred a staggering 23,616,644 (23.61M) SHIB to the dead wallet in one significant transaction.
Dormant Wallet Burned 23.61 Million SHIB in a Single Transaction
The report further illustrates that the dormant wallet last accumulated a little 4,558,215 (4.55M) SHIB on December 13th, 2022. after the burn, the wallet now holds zero SHIB.
This massive burn transaction causes overall Shiba Inu’s burn rate to surge by 235.58% over the last day.
Shiba Inus Burn Rate Surges 235 Percent Over the Last 24 Hours
Despite the massive burn transaction, Shiba Inu remains on the back foot. As of writing, Shiba Inu is trading at the price of $0.00000819, down -8.29% over the last day, with a 24-hour trading volume of $182,040,451 ($182.04M).