SHIB Burns Skyrocket 545% As Two Anon Whales Scorch Millions of Coins

The Shibburn wallet tracker reports a 545% increase in SHIB burn transactions, driven by two anonymous whales. This article explores the impact of these burns on SHIB’s price and market dynamics.

Points

• SHIB burn transactions increase by 545%, as tracked by Shibburn.
• Two anonymous whales burned over 10.35 million SHIB.
• SHIB’s price performance shows resilience despite recent fluctuations.
• Shiba Inu lead developer addresses misinformation about TREAT token.

Significant Increase in SHIB Burns

The Shibburn wallet tracker, popular within the Shiba Inu community, has reported a 545% increase in SHIB burn transactions since Sunday morning. This surge is primarily attributed to two anonymous whales who transferred a total of 10,359,000 SHIB to unspendable blockchain wallets.

Breakdown of Burn Transactions

There were four significant burn transactions, all executed by two anonymous wallets. The first wallet, ending in -205b5, burned two lumps of 4,559,000 and 3,000,000 SHIB. The second wallet, ending in -eaa40, scorched two identical chunks of 1,400,000 SHIB each.

SHIB’s Price Performance

Despite recent fluctuations, SHIB has managed to recover half of its losses after a 10% crash last Thursday. The second-largest meme coin, Shiba Inu, attempted three breakouts before reaching the $0.000001846 level. However, the market pushed SHIB down by 3.9%, leaving it at $0.00001771 at the time of writing.

Clarification on TREAT Token

Shiba Inu’s lead developer, Shytoshi Kusama, recently addressed misinformation regarding the TREAT token. Crypto.com published an article incorrectly assuming that the TREAT token had already launched, leading to concerns within the community. Kusama clarified that the TREAT token is still in development and urged the community to be cautious of any misleading information.

Conclusion

The significant increase in SHIB burn transactions by two anonymous whales highlights the ongoing efforts to reduce the supply and potentially boost the value of SHIB. Despite recent price fluctuations, the Shiba Inu community remains active and engaged. Investors should stay informed about updates from official sources to avoid misinformation and capitalize on potential market opportunities.