Data shared by popular blockchain wallet tracker Shibburn shows that an anonymous whale burned a large amount of Shiba Inu meme coins in just one transaction.
Meanwhile, the price of the second most popular meme cryptocurrency SHIB has been struggling to recover and surpass the $0.00003 level after falling from $0.00003316 on Sunday.
More than 2 billion SHIB lost in the fire
The above data source shows that in the past 24 hours, the Shiba Inu community has been actively destroying SHIB coins, and they have successfully processed a large amount of cryptocurrency - 2,022,950,833 SHIB.
This impressive achievement was made possible by seven transactions. Almost all of 2.022 billion SHIB was transferred to an unusable address in a single transaction by an anonymous cryptocurrency tycoon who held 2,020,624,700 SHIB meme coins.
However, despite the staggering amount of cryptocurrency, this only equates to $59,608 in fiat currency.
The second largest burn transfer carried less than a million meme coins – 900,000 SHIB.
According to Shibburn, the overall incineration has reached 2.022 billion Shiba Inus, and the incineration rate has risen to 3,162.56%.
SHIB Burning Controversy
In the comments of a tweet announcing the destruction of 2.02 billion SHIB, users spread the news of this huge meme coin, which was destroyed by @Shibtoshi_SG, the founder of the SquidGrow cryptocurrency. Last week, the same person also destroyed a little more than 1 billion SHIB in one go. In total, the combined efforts of the SHIB community and the coin's development team resulted in the destruction of 3,162,301,655 SHIB last month.
As the controversy over SHIB destruction continues on the X platform, some SHIB enthusiasts continue to accuse the SHIB team of being too slow to destroy Shiba Inu coins. Lead developer Shytoshi Kusama and his right-hand man Kaal Dhairya insist that the more utility there is on Shibarium, the more SHIB will be destroyed, and it is not up to them to decide. As if to oppose Kusama and challenge his leadership, @Shibtoshi_SG destroyed the first 1 billion SHIB last week and has now sent more than 2 billion SHIB to the same direction - dead end wallets.
Kaal Dhairya also recently tweeted that he has some cool ideas on how to improve the SHIB destruction mechanism, which will be implemented after the upcoming maintenance.
