In a surprising turn of events, a dormant Shiba Inu wallet emerged after 2.2 years of inactivity to play a significant role in burning 113 million SHIB tokens. Data from the Shibburn platform, a system dedicated to tracking SHIB burn transactions from Etherscan, revealed that over the past 24 hours, a whopping 112.9 million SHIB tokens were incinerated.
A lion’s share of this recent burn came from a previously silent SHIB wallet, which sent a staggering 77,524,940 SHIB to an unspendable address just eight hours ago. Intriguingly, this wallet has been active a mere three times, with its inaugural transaction dating back 813 days and 20 hours, roughly 2.2 years ago.
This recent burning spree has escalated the SHIB burn rate by 392.27%. Another analytics platform, CryptEye, furnished data showcasing the SHIB community’s recent burning endeavors. The community has obliterated almost 1.97 billion SHIB tokens in the past month and an astounding 26.46 billion SHIB over the last six months.
In anticipation of Shytoshi Nakamoto and his team unveiling the Shibarium mainnet, significant SHIB burns are on the horizon. Post Aug. 16, after the conclusion of the Blockchain Futurist Conference in Toronto – where SHIB would be a prominent sponsor, and Kusama is slated to deliver a speech through AI – the new mainnet would witness BONE as its official gas token. A BONE segment of transaction fees would be converted to SHIB, destined for dead-end wallets. This integration forecasts trillions of Shiba Inu tokens being burned every week by its dedicated community.
Lastly, for those curious about the scale of SHIB burns in recent history, Shibburn has provided an enlightening list showcasing the 10 largest SHIB transfers directed to unspendable addresses. The sheer magnitude of these individual transactions from 2021 and 2022 remains an impressive testament to the community’s dedication.
