More than 1.91 Billion ahead of Shibarium Public Beta launch shiba inu was burned. An unusual burning activity has been observed in Shiba Inu recently. Etherscan.io data reports that Contract Creator, “Shiba Inu: Deployer 2”, has removed 1,917,855,961 (1.91B) SHIBs from circulation forever by performing multiple transactions in the last 2 hours. This equates to around $21,000 at the current price of the SHIB.
Despite this massive burn, the contract wallet still holds 288,342,406,555 SHIB worth $3,168,883. This indicates that more burning may occur in a short time.
As a result of the significant incineration by the contract wallet, SHIB’s overall incineration rate skyrocketed by 26462.38% in the past day.
This sudden development led to questions and speculation as to the reason behind the burning. Many people do this shibarium He suggests it may be related to the upcoming launch of the Public Beta testnet.
Shibarium Beta is expected to have a built-in SHIB burning feature that destroys a significant amount of SHIB for every transaction performed on the network. The SHIB team recently announced that the launch of the Shibarium Public Beta testnet will take place this week.
At the time of writing, SHIB is trading at $0.00001098, up 0.76% from the last day with a 24-hour trading volume of $445,633,606.
You can follow the current market movements here.
Source : The Crypto Basic