Shiba

2024

Shiba Inu

Spot

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
SHIB transaction tracker Shibburn spreads the word about an intensive rise in the SHIB burn rate observed since last morning. In the meantime, the same source has announced a monstrous amount of SHIB destroyed over the past month.
The aforementioned 24-hour burns have coincided with a monstrous price increase staged by <a href="https://u.today/shiba-inu-founder-ryoshis-crucial-message-shared-by-shib-marketing-lead" rel="noopener noreferrer nofollow">Shiba Inu</a> since last morning.
<h2 id="burn-rate-jumps-887-643-million-shib-burned-in-february">Burn rate jumps 887%; 643 million SHIB burned in February</h2>
Shibburn has reported that within the last 24 hours, the cumulative efforts of the SHIB community have made it possible to destroy 37,104,438 SHIB meme coins, pushing the burn rate 887.07% up.
The largest burn transaction here took place approximately nine hours ago, sending 21,540,898 SHIB to dead-end cryptocurrency wallets. The second largest one burned 9,740,615 SHIB, occurring 16 hours ago. The other three substantial transfers carried 2,154,873 SHIB, 1,000,000 SHIB and 1,802,613 SHIB, the latter took place less than an hour ago.
On Friday, less than <a href="https://u.today/shiba-inu-shib-incinerates-37-million-tokens-in-massive-30187-spike" rel="noopener noreferrer nofollow">4 million SHIB</a> were sent to unspendable blockchain addresses, according to data provided by the Shibburn website. <img alt=" Shibburn rate skyrockets" data-entity-type="file" data-entity-uuid="702d4407-24c2-457e-93d5-f5d452a308a7" src="https://u.today/sites/default/files/inline-images/SHIBburnRate22_5.png">Image via <a href="https://www.shibburn.com/#google_vignette" rel="noopener noreferrer nofollow">Shibburn</a>
According to the same source, in the past month of February, the SHIB community disposed of a massive 643,656,418 SHIB meme coins overall.
<blockquote>
 🔥🔥🔥 643,656,418 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> tokens have been burned in the month of February with 134 transactions. <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> <a href="https://t.co/F6ihbnd76o" rel="noopener noreferrer nofollow">pic.twitter.com/F6ihbnd76o</a>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1763431289984626755?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 1, 2024</a>
</blockquote>
<h2 id="major-accumulations-pushing-shib-to-two-year-high">Major accumulations pushing SHIB to two-year high</h2>
Over the last 24 hours, Shiba Inu has demonstrated a mammoth-sized increase of over 70% and has reached a high of $0.00002250, last seen in April 2022. According to the Spot On Chain analytics data aggregator, aside from other factors, there were three major SHIB purchases that contributed to the aforementioned price increase.
During the last few days that preceded the price rally, a <a href="https://u.today/3-trillion-shib-moved-to-robinhood-address-as-shiba-inu-price-makes-70-jump" rel="noopener noreferrer nofollow">smart whale purchased</a> a whopping 75.91 billion SHIB on Binance for $1.51 million and withdrew them. Currently, his profit constitutes $614,000 (69%).
The second major purchase was made by the founder of Maker DAO, @RuneKek. He acquired a staggering 7.41 billion SHIB for 100,000 USDT. The third buy here was made by a blockchain wallet related to the UPbit exchange — it accumulated 2.13 trillion SHIB over the past 24 hours. At the time of writing this, this wallet is ranked as the seventh largest SHIB address, and it holds 12.45 trillion Shiba Inu worth $247 million.
<blockquote>
 The <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> price soared over 50% (24H). What happened on-chain in the past 3 days leading to the pump?1. Smart trader 0x37d withdrew 75.91B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> (currently $1.51M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> 2 days ago before the pump, now making $614K (+69%).🔔 <a href="https://t.co/qknAUOYg82" rel="noopener noreferrer nofollow">https://t.co/qknAUOYg82</a>2. <a href="https://twitter.com/hashtag/MakerDAO?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#MakerDAO</a>… <a href="https://t.co/qwXzW28r1N" rel="noopener noreferrer nofollow">pic.twitter.com/qwXzW28r1N</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1763759623268360637?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 2, 2024</a>
</blockquote>

SHIB Burns See 887% Surge After 634 Million SHIB Destruction in February

Table of Contents

U_Today

Other articles published on Mar 2, 2024

UNI Price Soars 15% After This Key Proposal by Uniswap Foundation

Sam Bankman-Fried Cites Autism Disorder As Reason To Avoid 100 Years In Prison

VaultEscrow Breaks New Ground with $50 Million in De-Staking Within First Week on ve.finance

Raffle Coin (RAFF) Bulls Charge Ahead: Ethereum (ETH) and Binance Coin (BNB) Enthusiasts Fueling ...

Anticipated Tabi Chain Testnet Launch Announced by Binance-Backed Project

CyberKart Unveils the Future of Multiplayer Crypto Gaming: A Thrilling Fusion of Racing, Strategy...

Join our free newsletter for daily crypto updates!