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In a recent turn of events, data shared by the Shibburn tracker shows that with the past 24 hours, the major metric of the $SHIB supply shrinking has soared by a three-digit number with millions of meme coins destroyed permanently. Almost all of the $SHIB mentioned in the report was burned by a mysterious Shiba Inu whale, according to the Shibburn and Etherscan data.
This happened while the second largest meme cryptocurrency by market capitalization size, $SHIB, has again attempted to break out of the price range it has been moving in recently.
Burn rate jumps 305% as enigmatic whale steps in
According to the above-mentioned data source, within the last 24 hours, the Shiba Inu community has succeeded in disposing of 98,045,035 $SHIB meme coins, driving the overall daily burn rate by 304.98% up.
This massive $SHIB burn milestone was achieved through ten transactions, which moved the meme coins to unspendable blockchain wallets. However, the majority of the aforesaid $SHIB was destroyed in a single transfer carrying 91,102,596 $SHIB. It was made by a mysterious cryptocurrency whale which both Shibburn and Etherscan failed to identify.
As for the weekly burns, here the burn rate is also on the rise, soaring by 82.66%, according to a recent tweet published by the $SHIB burns tracker. Overall, in the past seven days, the community has transferred massive 330,335,592 $SHIB to unspendable wallets.
Still, despite the constant burns, the overall $SHIB supply remains practically unchanged and constitutes 589,275,241,204,667 $SHIB meme coins. A total of 410,724,758,795,332 $SHIB have been locked in dead-end wallets already and 6,536,456,176,031 $SHIB have been locked in staking wallets on various exchanges and DeFi platforms.
700 billion $SHIB purchased by whale
Popular blockchain sleuth Whale Alert, which tracks large cryptocurrency transfers, has come up with a tweet about an astounding amount of almost 700 billion $SHIB moved from the top exchange Crypto.com.
The 692,400,000,000 $SHIB were withdrawn by a mysterious whale to his private wallet, after spending $19,260,837 in fiat on that massive $SHIB chunk. According to Etherscan, this was a brand new wallet with only three transactions performed in total.
The community was fascinated by this enormous transaction as they published comments, attempting to guess who stands behind this multi-hundred-billion $SHIB transfer.