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New Wallet Burns Massive 2 Billion Shiba Inu At once
New Mysterious Wallet Burns 2B+ SHIB at Once, Who Could it Be?
The latest burn transaction occurred a few hours after the Cult Punks NFT project incinerated 246 million Shiba Inu tokens.
The Shiba Inu (SHIB) burn rate recently skyrocketed by up to 14,571% in the past 24 hours, following a new mysterious wallet’s incineration of over 2 billion SHIB tokens. Data from Etherscan suggests that the burn transaction occurred today at 15:20 (UTC), involving exactly 2,005,265,274 (2.005 billion) SHIB.
Shibburn @shibburn
As of press time, there is limited knowledge on the team or individual behind the wallet involved. The wallet was recently activated, with only five transactions carried out on it so far. Its first ever transaction occurred today at 11:37 (UTC).
It bears mentioning that the wallet’s transactions reveal an interesting behavior. Notably, the first two transactions on the wallet involved deposits of up to 14 Ether (ETH) tokens. The wallet then swapped 10.8 ETH to 2 billion SHIB, and then burned the 2 billion SHIB tokens.
After burning the Shiba Inu tokens, the address swapped 2.45 ETH to 4.8 billion Blaze (BLZE) tokens. Although the team behind the wallet remains unknown, several proponents have asserted that it belongs to the team behind Blaze Token, a recently-launched project which claims to be on a mission to “burn trillions of SHIB.” However, the Blaze team has not officially taken credit for the burn as of press time.
It is important to note that Levi, a social media influencer and founder of the Blaze project, disclosed earlier today that the project is about to carry out its first burn transaction. Moreover, a look at the official Blaze website shows that the project claims to have burned 2,005,265,274 SHIB so far.
Levi@LeviRietveld
The latest burn occurred shortly after the Cult Punks NFT project incinerated 246 million SHIB tokens earlier today, as previously reported by The Crypto Basic. Consequently, up to 2.259 billion Shiba Inu has been burned in the past 24 hours, with 410.63 trillion tokens burned so far.
source: thecryptobasic
#SHIB #shibburn #crypto #shibainu #dyor
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
The latest burn transaction occurred a few hours after the Cult Punks NFT project incinerated 246 million Shiba Inu tokens.
The Shiba Inu (SHIB) burn rate recently skyrocketed by up to 14,571% in the past 24 hours, following a new mysterious wallet’s incineration of over 2 billion SHIB tokens. Data from Etherscan suggests that the burn transaction occurred today at 15:20 (UTC), involving exactly 2,005,265,274 (2.005 billion) SHIB.
Shibburn @shibburn
As of press time, there is limited knowledge on the team or individual behind the wallet involved. The wallet was recently activated, with only five transactions carried out on it so far. Its first ever transaction occurred today at 11:37 (UTC).
It bears mentioning that the wallet’s transactions reveal an interesting behavior. Notably, the first two transactions on the wallet involved deposits of up to 14 Ether (ETH) tokens. The wallet then swapped 10.8 ETH to 2 billion SHIB, and then burned the 2 billion SHIB tokens.
After burning the Shiba Inu tokens, the address swapped 2.45 ETH to 4.8 billion Blaze (BLZE) tokens. Although the team behind the wallet remains unknown, several proponents have asserted that it belongs to the team behind Blaze Token, a recently-launched project which claims to be on a mission to “burn trillions of SHIB.” However, the Blaze team has not officially taken credit for the burn as of press time.
It is important to note that Levi, a social media influencer and founder of the Blaze project, disclosed earlier today that the project is about to carry out its first burn transaction. Moreover, a look at the official Blaze website shows that the project claims to have burned 2,005,265,274 SHIB so far.
Levi@LeviRietveld
The latest burn occurred shortly after the Cult Punks NFT project incinerated 246 million SHIB tokens earlier today, as previously reported by The Crypto Basic. Consequently, up to 2.259 billion Shiba Inu has been burned in the past 24 hours, with 410.63 trillion tokens burned so far.
source: thecryptobasic
#SHIB #shibburn #crypto #shibainu #dyor
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Though it doesn't perform as some crypto gurus predicted, it's worth keeping an eye on this one.
According to shibburn.com:
"Shiba Inu Supply
410,709,332,962,061 - Total burnt from initial supply
999,982,367,709,922 - Max Total Supply
589,290,667,037,938 - Total Supply
582,392,148,503,792 - Circulating Supply
6,898,518,534,145 - Staked (xSHIB)"
#Write2Earn #shibburn #shib
According to shibburn.com:
"Shiba Inu Supply
410,709,332,962,061 - Total burnt from initial supply
999,982,367,709,922 - Max Total Supply
589,290,667,037,938 - Total Supply
582,392,148,503,792 - Circulating Supply
6,898,518,534,145 - Staked (xSHIB)"
#Write2Earn #shibburn #shib
33.6 Billion SHIB Destroyed by Shiba Inu Team and Shytoshi Kusama: Details
The official marketing manager of the Shiba Inu team, who prefers to call herself Lucie on social media, has taken to the Twitter/X network to spread the word about the fourth consecutive SHIB burn that was performed by the SHIB team.
Fourth massive SHIB burn, Lucie announced that another chunk of Shiba Inu meme coins has been transferred to unspendable wallets this month — 8,471,583,707 SHIB evaluated at $90,857.
This is the fourth hunk of SHIB transferred out of the circulating supply, and the third one performed this month. According to data provided by the Shibburn tracker, so far in December a total of 25,724,850,362 SHIB have been destroyed, with the burn rate jumping by a staggering 13,983.12% over the past week.
Overall, within the four burns, the Shiba Inu team has eliminated approximately 33.6 billion Shiba Inu worth $363,600. Token burns are a strategy undertaken in an attempt to reduce the circulating supply of a cryptocurrency by locking it away in unspendable blockchain addresses. The aforementioned tremendous burns made by the SHIB team are made using funds earned on transaction fees on the Layer-2 Shibarium blockchain.
Gas fees are charged in BONE, and then part of each fee is set aside. Some of it gets put away for the needs of the team, and the other part gets converted into SHIB and then transferred to dead-end addresses. Last weekend, Shytoshi Kusama took to X to announce that in order to achieve any significant price impact from burns, Shiba Inu and Shibarium must get away from memes and get global adoption and utility. The more investors, developers, users are using Shibarium, the more fees there are, he assumes, therefore, more SHIB burns can be made.
#shib #shibarium #shibburn
Disclaimer: DYOR
The official marketing manager of the Shiba Inu team, who prefers to call herself Lucie on social media, has taken to the Twitter/X network to spread the word about the fourth consecutive SHIB burn that was performed by the SHIB team.
Fourth massive SHIB burn, Lucie announced that another chunk of Shiba Inu meme coins has been transferred to unspendable wallets this month — 8,471,583,707 SHIB evaluated at $90,857.
This is the fourth hunk of SHIB transferred out of the circulating supply, and the third one performed this month. According to data provided by the Shibburn tracker, so far in December a total of 25,724,850,362 SHIB have been destroyed, with the burn rate jumping by a staggering 13,983.12% over the past week.
Overall, within the four burns, the Shiba Inu team has eliminated approximately 33.6 billion Shiba Inu worth $363,600. Token burns are a strategy undertaken in an attempt to reduce the circulating supply of a cryptocurrency by locking it away in unspendable blockchain addresses. The aforementioned tremendous burns made by the SHIB team are made using funds earned on transaction fees on the Layer-2 Shibarium blockchain.
Gas fees are charged in BONE, and then part of each fee is set aside. Some of it gets put away for the needs of the team, and the other part gets converted into SHIB and then transferred to dead-end addresses. Last weekend, Shytoshi Kusama took to X to announce that in order to achieve any significant price impact from burns, Shiba Inu and Shibarium must get away from memes and get global adoption and utility. The more investors, developers, users are using Shibarium, the more fees there are, he assumes, therefore, more SHIB burns can be made.
#shib #shibarium #shibburn
Disclaimer: DYOR
#shibburn #shib #crypto $shib
Shiba Inu (SHIB), increasing the burn rate can have a significant impact on its price through the basic economic principle of supply and demand.
1. Reduction in Supply
Deflationary Pressure: By burning a large number of SHIB tokens, the total supply decreases. With a reduced supply and if the demand remains constant or increases, the value of the remaining tokens can rise. This deflationary mechanism is similar to stock buybacks in traditional finance.
Scarcity: Creating scarcity by burning tokens can make SHIB more attractive to investors, potentially driving up the price as the perception of value increases.
2. Increased Investor Confidence
Market Perception: A high burn rate can signal to the market that the developers are committed to increasing the token's value over time, which can boost investor confidence. This perception can attract more buyers and long-term holders, contributing to a price increase.
Community Support: A transparent and well-executed burn strategy can garner strong community support. Enthusiastic community engagement often leads to increased buying activity, further driving up the price.
3. Enhanced Utility and Adoption
Transactional Uses: If SHIB is used more widely in transactions and a portion of each transaction is burned, this can continuously decrease the circulating supply, incrementally increasing scarcity and value over time.
Ecosystem Growth: As the Shiba Inu ecosystem grows with new applications and uses for SHIB, integrating burning mechanisms into these new services can sustainably increase the burn rate and, consequently, the token's value.
4. Speculative Interest
Price Speculation: Cryptocurrency markets are often driven by speculative interest. A significant burn event can generate news and hype, attracting speculators who drive the price up in anticipation of future gains.
FOMO (Fear of Missing Out): High burn rates and rising prices can create FOMO among investors, leading to increased buying pressure and further elevating the price.
#write2earn
Shiba Inu (SHIB), increasing the burn rate can have a significant impact on its price through the basic economic principle of supply and demand.
1. Reduction in Supply
Deflationary Pressure: By burning a large number of SHIB tokens, the total supply decreases. With a reduced supply and if the demand remains constant or increases, the value of the remaining tokens can rise. This deflationary mechanism is similar to stock buybacks in traditional finance.
Scarcity: Creating scarcity by burning tokens can make SHIB more attractive to investors, potentially driving up the price as the perception of value increases.
2. Increased Investor Confidence
Market Perception: A high burn rate can signal to the market that the developers are committed to increasing the token's value over time, which can boost investor confidence. This perception can attract more buyers and long-term holders, contributing to a price increase.
Community Support: A transparent and well-executed burn strategy can garner strong community support. Enthusiastic community engagement often leads to increased buying activity, further driving up the price.
3. Enhanced Utility and Adoption
Transactional Uses: If SHIB is used more widely in transactions and a portion of each transaction is burned, this can continuously decrease the circulating supply, incrementally increasing scarcity and value over time.
Ecosystem Growth: As the Shiba Inu ecosystem grows with new applications and uses for SHIB, integrating burning mechanisms into these new services can sustainably increase the burn rate and, consequently, the token's value.
4. Speculative Interest
Price Speculation: Cryptocurrency markets are often driven by speculative interest. A significant burn event can generate news and hype, attracting speculators who drive the price up in anticipation of future gains.
FOMO (Fear of Missing Out): High burn rates and rising prices can create FOMO among investors, leading to increased buying pressure and further elevating the price.
#write2earn
🔥🔥🔥 $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
#CryptoNews🔒📰🚫 #BinanceSquareTalks
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
#CryptoNews🔒📰🚫 #BinanceSquareTalks