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In a fiery display, a Shiba Inu whale burned 250 million SHIB tokens, causing the burn rate to explode by 1,664% within just 24 hours. This bold move drastically impacts SHIB’s circulating supply and intensifies community efforts.
Shiba Inu Whale Fuels 1,664% Burn Surge
The SHIB burn rate has increased dramatically since last morning, according to the latest update on the Shibburn tracker's website.
Additionally, "inferno" wallets have received several hundred million Shiba Inu coins. The involvement of a mysterious whale with a penchant for devouring large quantities of Shiba Inu made that dream a reality.
U.Today states that according to the data source stated before, the SHIB burn rate increased by 1,664.70% in the past 24 hours. In total, 250,898,588 Shiba Inu meme coins were successfully sold by the SHIB community.
Whale's Transaction Sparks SHIB Burn Surge
Nonetheless, a whale's transaction of 250,000,000 to an unspending blockchain address is the reason for this meteoric spike. It has been reported by Etherscan that he had previously executed such a massive SHIB burn by himself.
The "itdsafe.eth" whale has been detected by Etherscan. He lit 250,000,000 SHIB on fire six days ago during his first burn. Thus, half a billion Shiba Inu coins are no longer in circulation thanks to this wallet owner.
Shiba Inu Lead Defends Project's Vision
The marketing lead for Shiba Inus, who goes by the alias Lucie, launched a tirade against prominent meme coins on her X account, comparing them to Shiba Inus.
"Any token to SHIB with only the bare minimum achieved" is ludicrous, according to Lucie. Both the "SHIB people behind it" and the developer team's dedication to BONE, LEASH, the Shiba Inu metaverse, and other NFT initiatives on Shibarium, such Shiboshis, have contributed to SHIB's success, as Lucie made evident.
Lucie said in her tweet that she was responding to the many posts on the X platform. "Too much nonsense," she said of them. She tweeted, "Focus on statistics and blockchain data—the rest is just noise." I couldn't agree more.
SHIB Trails Behind Other Meme Coins
However, as stated in a recent post by @lookonchain, SHIB has been trailing behind other famous meme coins in terms of liquidity figures on DEXs. These other coins include PEPE, WIF, BabyDoge, Floki, and half a dozen more. You won't see Dogecoin or Shiba Inus on the list.
