- An unknown wallet has burned 36.42M $SHIB tokens.
- The transfer was carried out by a newly created wallet.
- $SHIB Burn rate to jump by 44.63% over the last day.
Cryptonewsland.com has recently revealed a mysterious transfer of a whopping 36,423,403 (36.42M) $SHIB to a dead wallet in a single large transaction that occurred within the early hours of Tuesday.
According to information provided by Etherscan.io, the transfer was carried out by a newly created wallet that had just recently purchased a large number of tokens, totaling 36.42 Million Shiba Inu, in a single transaction from one of the wallets linked with KuCoin. Notably, KuCoin is a cryptocurrency exchange based in Seychelles and labeled “KuCoin 9.”
The tokens that had been gathered in the wallet were sent to a “Null address” not long after the purchase was made, and the wallet now contains ZERO SHIB.
The massive SHIB Burn transaction caused the overall SHIB Burn rate to jump by 44.63% over the last day.
It is important to note an earlier Shiba Inu team announcement stating that each and every transaction executed on Shibarium Network will burn Shiba Inu. Additionally, the team confirmed that they are working on the renewed SHIB Burn Portal specifically for the Shibarium Network. This will be available as soon as the much anticipated Shibarium Beta is launched.
According to Coinmarketcap data, Shiba Inu`s native token (SHIB) has surged by 1.42% in the last 24 hours and is changing hands at $0.000011. With a 24-hour trading volume of $276 million, a live market cap of $5,7 Billion has been hit. $SHIB has a circulating supply of 549 Trillion SHIB coins.
Read Also :
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
