Altcoins

Koyo Burns 733M Shiba Inu, 758M Shib Destroyed in 24 Hours

Over 758.95 Million Shiba Inu (SHIB) burned in the past 24 hours, 733.02 Million in a record transaction.

In a surprising move, the Shiba Inu Community has conducted a massive burn event, eliminating a record-breaking 758,951,740 (758.95M) SHIB from circulation through nine separate transactions within 24 hours.

In the past 24 hours, there have been a total of 758,951,740 $SHIB tokens burned and 9 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

— Shibburn (@shibburn) March 22, 2023

The newly launched token primarily led the burn, Koyo (KYO) token, which executed the most significant transaction of the day by transferring 733,024,321 (733.02M) SHIB to the dead wallet around 12 hours ago from press time. This burn event marks the largest transaction of the week.

In the previous week, Koyo burnt a record SHIB on March 17th by destroying 924,150,949 (924.15M) coins in a single transaction. As per data provided by Etherscan.io, Koyo has burned a humungous 5,364,203,658 (5.36B) SHIB since March 10th through multiple transactions.

Koyo Burned 733024321 Million SHIB in a Single Transaction

18.32M SHIB Burned via Coinbase Exchange Wallet

The second major burn transaction in the past 24 hours came from the wallet associated with Coinbase, called “Coinbase 10,” which transferred 18,323,408 (18.32M) SHIB to the dead wallet around 3 hours ago from press time.

🔥 18,323,408 $SHIB -> transferred to dead wallet. https://t.co/6R3ib2LAST

— Shibburn (@shibburn) March 22, 2023

The massive burn transactions had caused Shiba Inu’s burn rate to skyrocket by 4622.53% over the past day when only 11,113,873 (11.11M) SHIB were destroyed through nine transactions.

Shiba Inu Burn Rate Skyrockets By 4622 Percent Over the Past DayHIB

As of writing, Shiba Inu is trading at the price of $0.00001093, up 3.07% over the last day, with a 24-hour trading volume of $335,914,372 ($335.91M).

   

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