250,000,000 SHIB in Single Move — What’s Happening?

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As a seasoned crypto investor with a knack for spotting trends and opportunities, I find myself intrigued by the recent SHIB burn rate surge. The impressive 250 million SHIB torched in one go is a testament to the vibrancy of the community and the potential of this meme coin.

According to a recent tweet from Shibburn tracking platform, the Shiba Inu (SHIB) community has successfully incinerated a substantial quantity of meme coins over the past day, totaling over 250 million SHIB. The largest portion of this amount was burned in one transaction by an unknown large investor, often referred to as a “whale.

For now, the price of the meme coin is trying to go beyond the barrier at $0.000033. Following an increase of about 5.21% over the last day, the second largest meme coin by market capitalization, SHIB, is currently being traded at approximately $0.00003105.

250 million SHIB torched in one go after 3-billion burns

According to Shibburn’s latest report, over the past day, the Shiba Inu community has moved approximately 273 million SHIB tokens to addresses that are essentially unusable, leading to a significant surge of 412% in the daily burn rate.

Among the transactions on this burn list, one transaction catches my attention for its significant impact – a single transfer of 250 million SHIB tokens was sent to an unreachable wallet, originating from an unknown source. This action is responsible for the dramatic increase in the burn rate.

🔥🔥 250,000,000 $SHIB -> transferred to dead wallet.

— Shibburn (@shibburn) December 6, 2024

Mysterious SHIB burner revealed

As an analyst, I’ve observed a sequence of events where a substantial amount of 250 million Shiba Inu was burned, followed by the destruction of additional tokens in quantities of 138,066 and 6,676,155. Interestingly, these two significant chunks – the 250 million and the 17 million – were reportedly burned by the same influential figure within the Shiba Inu community, as per the information provided by Shibburn.

As a crypto investor, I recently discovered through a Twitter commentary that an astounding 250,000,000 SHIB tokens were incinerated by the user behind @1cDreamX, the visionary creator of the CENT meme coin.

Over the past week, it has been destroyed for the third time that large quantities of SHIB have been eliminated, this time allegedly by creators of other cryptocurrencies. As U.Today previously reported, approximately 3 billion SHIB were sent to inactive wallets by the creator of SquidGrow crypto, Shibtoshi.

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2024-12-07 13:45