Shiba Inu burn rate: Decentralized meme crypto coin burns 1 billion tokens, mystery wallet fuels rally; do you own? | Stock Market News
Source: Live Mint
The Shiba Inu (SHIB) burn rate has experienced a staggering 8,470% surge after an anonymous wallet carried out a massive token burn. According to data from Shibburn, a well-known community tracker, a mysterious wallet (‘0x55B…182E3’) transferred 1 billion SHIB tokens to the official burn address in a single transaction.
Details of the SHIB Burn Event
The transaction took place on [Date] at 14:55 UTC and was valued at approximately $13,050, based on SHIB’s market price of $0.00001305 at the time. On-chain data indicates that this wallet has previously executed similar burns.
Etherscan records show that the same wallet burned 1 billion SHIB on March 15, 2025, another 1 billion SHIB on August 7, 2024, and 700 million SHIB on February 10, 2024. Despite these large burns, the wallet still holds 1 billion SHIB, worth about $13,050.
