Shiba Inu Burn Rate Soars: 1 Billion Tokens Burned by Mysterious Wallet
The Shiba Inu burn rate increased by 8,470% after an anonymous wallet burned 1 billion tokens in a large transaction. The wallet has a history of similar burns, highlighting active community participation.
The Shiba Inu (SHIB) burn rate has skyrocketed by 8,470% following a significant token burn executed by an anonymous wallet. This wallet, identified as ‘0x55B…182E3’, transferred 1 billion SHIB tokens to the designated burn address in a single transaction. The transaction, valued at approximately $13,050 based on the market price of $0.00001305, underscored the community’s enthusiasm for the token’s deflationary measures.
This particular transaction occurred on [Date] at 14:55 UTC, reflecting ongoing interest from the wallet, which has previously executed several substantial burns. Notably, on March 15, 2025, the same wallet burned another 1 billion SHIB tokens, alongside previous burns of 1 billion on August 7, 2024, and 700 million on February 10, 2024. Remarkably, despite these significant reductions, the wallet retains another billion SHIB, maintaining a value of around $13,050.
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In summary, the Shiba Inu burn rate has seen an extraordinary rise attributed to a significant burn of 1 billion tokens by an anonymous wallet. This action, alongside previous burns by the same wallet, highlights the dynamic and active participation within the Shiba Inu community. The continued interest in burning SHIB tokens emphasizes a concerted effort toward increasing scarcity and potential long-term value.
Original Source: www.livemint.com
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