Cointime

Cointime

Download App
iOS & Android
Home / JUST IN

New Wallet Burns Massive 2 Billion Shiba Inu at Once

The latest burn transaction occurred a few hours after the Cult Punks NFT project incinerated 246 million Shiba Inu tokens.

The Shiba Inu (SHIB) burn rate recently skyrocketed by up to 14,571% in the past 24 hours, following a new mysterious wallet’s incineration of over 2 billion SHIB tokens. Data from Etherscan suggests that the burn transaction occurred today at 15:20 (UTC), involving exactly 2,005,265,274 (2.005 billion) SHIB.

As of press time, there is limited knowledge on the team or individual behind the wallet involved. The wallet was recently activated, with only five transactions carried out on it so far. Its first ever transaction occurred today at 11:37 (UTC).

It bears mentioning that the wallet’s transactions reveal an interesting behavior. Notably, the first two transactions on the wallet involved deposits of up to 14 Ether (ETH) tokens. The wallet then swapped 10.8 ETH to 2 billion SHIB, and then burned the 2 billion SHIB tokens.

(by Albert Brown)

Shiba Inu SHIB
Comments

All Comments

Recommended for you

  • Bybit Receives In-Principle Approval to Establish Virtual Asset Platform in the United Arab Emirates

    Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced that it has received In-Principle Approval (IPA) from the Securities & Commodities Authority (SCA) of the United Arab Emirates (UAE) to operate as a Virtual Asset Platform Operator in the UAE. The approval, dated February 18, 2025, signifies a significant milestone in Bybit's efforts to provide a secure and compliant platform for crypto traders in the region. Bybit is now in the final stages of obtaining its fully operational license, demonstrating its commitment to meeting regulatory and compliance standards. This authorization brings Bybit closer to offering a wide range of digital asset services to retail and institutional clients in the UAE, aligning with its goal of fostering a compliant and innovative digital asset ecosystem. Bybit's progress in the UAE complements its existing regulatory approvals in the Middle East and reflects its dedication to compliance in key financial hubs worldwide.

  • Trump: Plans to impose 25% tariffs on Canadian and Mexican goods starting February 1

    On January 30th local time, US President Trump stated that he plans to fulfill his promise of imposing a 25% tariff on imported goods from Mexico and Canada on February 1st, and will decide whether to include oil in the list of goods subject to tariffs on the evening of January 30th. On January 20th, when signing a series of executive orders in the Oval Office of the White House, Trump told the media that he is considering imposing a 25% tariff on Mexico and Canada, and the tax may be implemented from February 1st this year. (CCTV News)

  • Arresters of South Korean President Yoon Seok-yeol clash with guards

    after attempting to arrest President Yoon Suk-yeol, Korean senior government officials from the Crime Investigation Department (CID) had a confrontation and physical conflict with security personnel inside the presidential residence today (January 3). The arresting officers have already passed through the main gate of the residence, but have not yet entered the building where Yoon Suk-yeol is located. 

  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts

  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

  • Cointime July 14th News Express

    1. Biden-related Meme Coin BODEN has dropped 6.5% in the past 24 hours

  • SHIB to change leadership and hand over project control to the community by year end

    Shytoshi Kusama and Kaal Dhairya, the anonymous chief developers of the Memecoin project Shiba Inu (SHIB), have given their first interview to the Arabic Business News. Kusama stated that he entered the cryptocurrency industry because of the influence of a super-rich passenger while driving for Uber, and then contacted Ryoshi, the anonymous creator of SHIB. Kusama aims to make SHIB the killer of Dogecoin and wants it to become "the world's first decentralized entity worth trillions of dollars". He pointed out that currently less than 5% of the world's population use cryptocurrency, and Meme will become the gateway to cryptocurrency and blockchain. Kusama and Dhairya have not given up their anonymous plan. In addition, they plan to transfer control of the project to the community by the end of this year, and by the end of the year, there will be a special committee to lead certain things. They both believe that it is not necessary to disclose their identities and said, "We can sit in this coffee shop, there are no security guards outside, and no one recognizes me. This is actually more valuable than any money."

  • 2 wallets deposited 211 billion SHIB into Coinbase within 10 hours

    According to The Data Nerd's monitoring, within 10 hours, 2 wallets (with the same amount of SHIB) deposited a total of 211 billion SHIB (about 5.16 million US dollars) into Coinbase. These wallets accumulated these SHIBs last week, and if sold at the current price, it would cause a small loss (about 120,000 US dollars).

  • Nearly 90 million SHIB removed from circulation in the past 24 hours

    Nearly 90 million SHIB tokens were removed from circulation in the past 24 hours, and Shiba Inu's burning rate surged by 50,000%.

  • A large-scale transfer transaction of over 30 trillion SHIB occurred on the Ethereum chain, worth nearly US$50 million.

    Whale Alert monitored that around 7:47 on March 2nd Beijing time, an address starting with "0x73af" transferred 3,023,255,579,400 SHIB tokens to an address starting with "0x40b3" on the Ethereum chain, worth approximately $49,933,096.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company