🔥🔥🔥 $SHIB Burns See 887% Surge After 634 Million SHIB Destruction in February
Shibburn, a SHIB transaction tracker, has alerted the community to a significant surge in the SHIB burn rate observed since yesterday. Concurrently, the same source has disclosed an impressive amount of SHIB tokens destroyed over the past month.
In the past 24 hours alone, the collective efforts of the SHIB community led to the incineration of 37,104,438 SHIB meme coins, marking an astonishing 887.07% increase in the burn rate. Among these burns, the largest transaction occurred approximately nine hours ago, torching 21,540,898 SHIB to unspendable cryptocurrency wallets. The second-largest burn saw 9,740,615 SHIB obliterated, happening 16 hours ago.
Additionally, three other substantial transfers accounted for 2,154,873 SHIB, 1,000,000 SHIB, and 1,802,613 SHIB, with the latter taking place less than an hour ago.
On Friday, less than 4 million SHIB were sent to unspendable #blockchain addresses, as per data provided by the #shibburn website. Moreover, over the course of February, the SHIB community disposed of a staggering 643,656,418 SHIB meme coins in total.
In tandem with these burns, Shiba Inu has witnessed an extraordinary surge of over 70% in the last 24 hours, reaching a high of $0.00002502, a level last seen in April 2022. Spot On Chain analytics data aggregator highlights three major SHIB purchases contributing to this price surge.
Leading the purchases, a savvy #whale acquired a remarkable 75.91 billion SHIB on Binance for $1.51 million and withdrew them, currently enjoying a profit of $614,000 (69%). The second significant purchase was made by the founder of Maker DAO, @RuneKek, who acquired 7.41 billion SHIB for 100,000 USDT.
Finally, a blockchain wallet linked to the UPbit exchange amassed 2.13 trillion SHIB over the past 24 hours, becoming the seventh-largest SHIB address, holding 12.45 trillion Shiba Inu worth $247 million at the time of writing.
Source - u.today
