Shibburn says that a mysterious whale has taken 1.69 billion SHIB tokens from circulation, resulting in a 38.986.28% spike in the burn rate of the Shiba Inu coin over the last 24 hours. This is the week’s third-largest burn, after just two other noteworthy events: CultPunks’ burn and another unidentified wallet’s burn. The Shiba Inu community has collectively removed approximately 4 billion tokens from circulation.
Shiba Inu prices are not primarily impacted by burns, and the team is working on new technologies and utilities to encourage adoption. According to IntoTheBlock data, a large number of SHIB tokens are now in the hands of long-term investors, showing the token’s growing attraction among those with a lengthy investment horizon.
Shiba Inu Burn Rate Skyrockets 39,000% After Mysterious Wallet Burns 1.69 Billion $SHIB
