2,020,624,700 SHIB in Just One Hour – What’s Going On?

Data shared by the popular blockchain wallet tracker Shibburn has revealed that an anonymous whale has burned a mammoth-sized amount of Shiba Inu meme coins in just a single transaction.

Meanwhile, the price of the second most popular meme cryptocurrency $SHIB has been trying hard to recover and break above the $0.00003 level after falling from $0.00003316 on Sunday.

More than 2 billion $SHIB disappear in flames

The aforementioned data source revealed that over the past 24 hours, the Shiba Inu community has been actively burning $SHIB coins as they managed to dispose of a massive amount of crypto—2,022,950,833 $SHIB.

That impressive outcome was achieved thanks to seven transactions. Nearly all the 2.022 billion $SHIB was shoveled to an unspendable address in a single transfer from an anonymous cryptocurrency whale which carried 2,020,624,700 $SHIB meme coins.

However, despite the very impressive amount in crypto, this was the equivalent of merely $59,608 in fiat.

The second largest burn transfer carried less than one million meme coins – 900,000 $SHIB.

According to Shibburn, the overall burn of 2.022 billion Shiba Inu has pushed the burn rate to 3,162.56 %.

The $SHIB burn dispute

In the comment thread to the tweet that announced the 2.020 billion $SHIB burn, users spread the word that this giant amount of meme coins was burned by the @Shibtoshi_SG founder of the SquidGrow crypto. Last week, the same person burned slightly over one billion $SHIB in one go as well. In total, last month, the cumulative efforts of the $SHIB community and the coin’s developer team led to the disposal of 3,162,301,655 $SHIB.

As disputes on the X platform about $SHIB burns continue and some $SHIB enthusiasts keep reproaching the $SHIB team for burning Shiba Inu coins slowly. The lead developer Shytoshi Kusama and his right hand Kaal Dhairya insist that the higher is utility on Shibarium, the more $SHIB will be burned and it does not depend on their will. As if to oppose Kusama and challenge his leadership, @Shibtoshi_SG has burned first one billion $SHIB last week and now has sent more than two billion $SHIB in the same direction – dead-end wallets.

Kaal Dhairya has also recently tweeted that he has some cool ideas on how to improve the $SHIB burn mechanism and they will be implemented after the upcoming maintenance.