Single Wallet Burns 207M Shiba Inu As SHIB Price Falls 21%

Over 211.14 million Shiba Inu (SHIB) burned in the past 24 hours, 207.71 million in a single transaction.

Shiba Inu Community has removed 211,140,844 SHIB from circulation forever through three separate transactions in the past 24 hours.

In the past 24 hours, there have been a total of 211,140,844 $SHIB tokens burned and 3 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

— Shibburn (@shibburn) June 10, 2023

This substantial burn marks a significant event for the Shiba Inu Community because a massive burn hasn’t been witnessed since June 4^th.

On June 4th, the Community transferred 123,375,116 (123.37M) SHIB to the dead wallet via seven distinct transactions., after that, no significant burn happened til today.

Biggest Burn of the Day

The biggest transaction of the day comes from the wallet associated with Binance, tagged Binance 14. The wallet transferred a whopping 207,715,716 (207.71M) SHIB to the dead wallet in a single transaction. Per Shibburn.com data, the transaction took place about 4 hours ago.

🔥🔥 207,715,716 $SHIB -> transferred to dead wallet. https://t.co/EW4LT6onfV

— Shibburn (@shibburn) June 10, 2023

This massive burn has caused the overall burn rate to increase by 3874.12% compared to the previous day.

On the other hand, Shiba Inu has witnessed a 1% increase in its circulating supply as a staggering 4,000,379,151,023 (4T) SHIB were unstaked by the long-term holder and promptly transferred to one of the wallets linked to Binance, tagged Binance 8.

Consequently, Shiba Inu experienced a significant decline in its price today. As of press time, SHIB is trading at $0.000006256, down -21.40% over the last day, with a 24-hour trading volume of $293,276,372 ($293.27M).