341M Shiba Inu Burned in a Day as SHIB Climbs to 14th Position Among Top Cryptos

Over 341.50 million Shiba Inu burned in the past 24 hours.

Shiba Inu Community has moved out 341.50 million SHIB from circulation forever in the past day. This feat was achieved through five transactions.

In the past 24 hours, there have been a total of 341,504,230 $SHIB tokens burned and 5 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

— Shibburn (@shibburn) June 22, 2023

This latest burn event is the largest since June 10th when the Community transferred 211,140,844 (211.14 million) SHIB to a dead wallet using three different transactions. Since then, no significant burns have been recorded, making this recent development even more notable.

Biggest Burners

Koyo Token (KOY) and the mysterious wallet emerged as the biggest burners of SHIB.

Koyo Token

Koyo Token (KOY) took the lead in burning the most SHIB in a single transaction. The community-driven project sent a staggering 252,873,213 (252.87 million) SHIB to the dead wallet in a single transaction. Per Shibburn.com data, the transaction took place about thirteen hours ago.

🔥🔥 252,873,213 $SHIB -> transferred to dead wallet. https://t.co/UoPEbIFzBw

— Shibburn (@shibburn) June 21, 2023

Mysterious Wallet

Shortly after, the mysterious wallet suddenly appeared, which had remained inactive for nearly two years. It transferred its entire SHIB holdings, totaling 84,405,747 (84.40 million) SHIB, to the inferno address in a single transaction.

🔥 84,405,747 $SHIB -> transferred to dead wallet. https://t.co/ZyZfqHOvRy

— Shibburn (@shibburn) June 21, 2023

This massive burn has caused the overall burn rate to skyrocket by 6936.88% over the last day.

Shiba Inu Regains 14th Place

Shiba Inu flipped DAI, WBTC, and TON to become the world’s 14th biggest cryptocurrency by market capitalization.

This notable burn event has significantly boosted Shiba Inu as it witnesses a 13% increase in its value over the last day. This increase in value propelled SHIB to become the world’s 14^th biggest cryptocurrency by market capitalization while flipping DAI, WBTC, and TON.

As of press time, Shiba Inu is trading at the price of $0.000008311 with a 24-hour trading volume of $249,319,964 ($249.31 million). The market capitalization of SHIB now stands at $4,867,835,627 ($4.86 billion).