An unknown user sent more than 225 million SHIB to a dead wallet in a single transaction, and Shiba Inu's destruction activity gained momentum, bringing the total daily destruction to over 232 million.
Shibburn has indexed a transaction involving the destruction of over 200 million Shiba Inu (SHIB) tokens. According to the burn tracker, an anonymous user sent 225,637,580 (225.63M) SHIB tokens worth $4,964 to the dead wallet.
Data from Shibburn shows that the transaction took place at 17:25 UTC yesterday. Further investigation of the wallet showed that the user withdrew 1.41 ETH ($4,946) from Robinhood before initiating the burn. As of posting time, there are no tokens in the wallet.
Furthermore, this address has been interacting with Blaze Token since June of last year, occasionally receiving and sending millions of BLZE.
More than 232 million SHIBs were destroyed, and the Shiba Inu burn rate soared to 2,834%
This transaction is the largest burn recorded in the past 24 hours. This transaction pushes Shiba Inu’s daily burn to approximately 232,222,042 (232.22M) SHIB. With SHIB trading at $0.00002200, the value of tokens burned in the past day is equivalent to $5,108.
Shiba Inu’s daily burn rate surged 2,834% after destroying 232 million tokens. The recent market downturn has negatively impacted Shiba Inu destruction activity, resulting in a drop in daily burns. As previously reported, the Shiba Inu community destroyed 271,470 SHIBs on June 10 and another 7.9 million tokens the next day.
However, the ongoing destruction campaign has gained momentum, with large amounts of SHIB being sent to dead wallets.
Shibburn data shows that in addition to the 225 million SHIBs destroyed in one transaction, other destruction-related transactions also contained millions of Shiba Inu tokens.
For example, an unknown wallet sent 1.95 million and 1.23 million SHIB tokens in two transactions in the past 13 hours, while another unknown wallet destroyed 1.69 million SHIB in the same time period.
Meanwhile, the wallet with the largest Shiba Inu burns recorded in the past 24 hours is no stranger to destroying Shiba Inu tokens. The wallet has destroyed SHIB tokens before. Notably, the wallet sent 500.8 million SHIB to the dead wallet on March 25.
While the SHIB destroyed in the past day is insignificant compared to Shiba Inu’s massive market cap of $12.95 billion, its impact is evident in the long run.
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