Shiba

Burn

Shiba Inu

Trillion

<ul>
 <li>In the past 24 hours, Shiba Inu (SHIB) experienced an exponential growth in burning activity.</li>
 <li>The accelerated token removals aim to reduce SHIB’s circulating supply,</li>
 <li>A mysterious wallet, originating from unknown sources, executed a substantial transfer of 4.2 trillion SHIB.</li>
</ul>
<p>The past 24 hours saw exponential growth in burning activity for popular meme coin <a href="https://thenewscrypto.com/?s=shiba+inu" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB), alongside several mammoth token transfers from mysterious crypto whales.</p>
<p>According to data analytics platform <a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Shibburn</a>, over 10.3 million SHIB tokens were destroyed in the last day, catapulting the current burn rate up a staggering 805% from previous levels.</p>
<figure class="wp-block-image size-full"><img decoding="async" width="357" height="301" src="https://thenewscrypto.com/wp-content/uploads/2023/12/image-5.png" alt="" class="wp-image-87034" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/image-5.png 357w, https://thenewscrypto.com/wp-content/uploads/2023/12/image-5-300x253.png 300w" sizes="(max-width: 357px) 100vw, 357px">
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<p>The accelerated token removals help chip away at SHIB’s still massive circulating supply of 549 trillion tokens. While barely a dent relative to total units outstanding, community-led burns have emerged as a vital mechanism for improving tokenomics long-term.</p>
<h2 class="wp-block-heading" id="h-shiba-inu-whales-move-trillions">Shiba Inu whales move trillions</h2>
<p>Mysterious Whale Sends 4 Trillion SHIB Alongside the expanded burning efforts, observers detected a mammoth transfer of SHIB tokens involving unknown parties that triggered intrigue across crypto Twitter.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 4,221,063,241,898 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (42,040,382 USD) transferred from unknown wallet to unknown wallet<a href="https://t.co/2eK4XvYi9r" rel="noopener noreferrer nofollow">https://t.co/2eK4XvYi9r</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1732433155473260635?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 6, 2023</a>
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<p>According to blockchain transaction bot Whale Alert, a wallet of obscure origins moved an astonishing 4.2 trillion SHIB tokens worth over $42 million to another anonymous address early Thursday.</p>
<p>The destination wallet, identified only by its crypto address starting 0xda2d93, now ranks among the largest non-exchange SHIB holders globally based on its massive holdings.</p>
<p>While the motives behind such an enormous transaction remain unclear, market chatter quickly attempted to decipher who might be orchestrating the mega-SHIB shuffling.</p>
<p>Ongoing efforts by devoted niche communities like SHIB’s appear critical to that mission as token projects fight for relevance and adoption years into the noisy crypto revolution.</p>

Shiba Inu Burn Rate Jumps Over 800% as Whales Move Billions of SHIB

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