Shiba Inu Burn News: Over 2 Billion SHIB Locked in Wallet Within One Hour
Recently, there has been a significant event in the SHIB community, where over 2 billion SHIB tokens were sent to a wallet that cannot be used. This was done by an anonymous big player, and SHIB fans are trying to find ways to reduce the circulation of this meme cryptocurrency.
Numbers Speak
According to data from Shibburn, a blockchain wallet tracker, a total of over 2 billion SHIB was processed in 7 transactions in the past 24 hours. Most of this came from large transactions by big players.
Although the amount of SHIB burned is astonishing, it is only worth about $59,608 at the current market price.
As a result, SHIB's burn rate increased by 3162.56% in 24 hours, impressive, right? In comparison, the second largest transfer that day was only 900,000 SHIB, highlighting the scale of this big player's actions.
SquidGrow Big Player Takes Action
Last week, a big player in the SHIB community burned over 1 billion SHIB in a single transaction, and they have already burned over 3 billion SHIB now, making a significant contribution to the community's token burn plan.
SHIB Investigation: Hot Discussions in the Community
The supply issue of SHIB has been a constant topic of controversy in the community. Some users feel that the burn rate is too slow and that more effort is needed, as it might even push up the price of SHIB.
SHIB's chief developer Shytoshi Kusama and his colleague Kaal Dhairya are also looking for solutions. They believe that if Shibaium (the second-layer blockchain of Shiba Inu) can be utilized, the SHIB burn rate will increase even faster.
Kaal Dhairya also revealed good news, saying that the SHIB burn mechanism is set to improve, with updates coming during the next Shibarium maintenance.
However, the actions of this big player @Shibtoshi_SG have drawn mixed reactions. Some praise him while others criticize him. Some say he is challenging Shytoshi Kusama's leadership, while others claim his actions are too decisive.
Burn Mechanism: Automatic Burn vs Manual Burn
The current controversy mainly revolves around the different methods.
Manual burns indeed show quick results, as seen from the burn rate. But in the long term, the ecosystem's burn is the key focus for SHIB,
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