Shib Burn Rate Spikes 30,000% As 1.5B Shiba Inu Burned In Single Transaction

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.

Shiba Inu burn tracker Shibburn reported a huge transaction with 1,494,278,561 SHIB transferred to the dead wallet at 07:14:59 AM UTC on April 14. The massive SHIB burn pushes the burn rate by 30929.37%, with 1,497,641,145 SHIB tokens burned in the last 24 hours.

KoyoToken took to Twitter to reveal another record of massive SHIB tokens burn, with 1.49 billion burned in a single transaction. The project has burned 8.75 billion SHIB in 36 days.

On April 10, Koyo burned 1,104,224,812 billion SHIB tokens worth over $12k in a single transaction, making it one of the top contributors to the Shiba Inu burn campaign to reduce the circulating supply.

Shiba Inu (SHIB) price increased by over 3% in the last 24 hours, with the SHIB price currently trading at $0.0000113. The 24-hour low and high are $0.00001094 and $0.00001145, respectively. Furthermore, the trading volume has jumped over 50% in the last 24 hours, indicating an increase in interest among traders.

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