Shiba Inu Community Burns Over 101M SHIB Tokens in 24 Hours
• Shibburn platform reports 101 million SHIB tokens were actively burned in the past 24 hours.
• The majority of the SHIB was transferred to an unspendable wallet by an anonymous whale, totaling 77,524,940 SHIB.
• Anticipation builds for major SHIB burns with the upcoming Shibarium mainnet launch after the Blockchain Futurist Conference.
Burn of 113 Million Shiba Inu
The Shiba Inu community has actively participated in burning more SHIB tokens over the past 24 hours, according to data provided by the Shibburn platform. A total of 101,888,615 SHIB were sent to dead-end wallets resulting in a 196% increase in the burn rate.
Dormant Whale Contribution
A significant portion of these burns can be attributed to a dormant whale that remained inactive for 2.2 years and transferred 77,524,940 SHIB to an unspendable wallet. Shibburn has also published a list of the top 10 largest burn transfers for SHIB.
Shibarium Mainnet Launch
Significant burns of Shiba Inu tokens are anticipated with the launch of the Shibarium mainnet by Shytoshi Nakamoto and the developer team after August 16 following the conclusion of Blockchain Futurist Conference in Toronto.
Top 10 Largest Burn Transfers
Shibburn has released a list featuring top 10 largest burn transfers for SHIB showcasing community involvement and support towards token burning initiative.
Conclusion
The recent surge in token burning activity is a positive sign for Shiba Inu network as it will help maintain its scarcity and raise its value over time due to deflationary effect from burning coins every time they are used within network transactions or sent back into unspendable wallets.