250,000,000 SHIB in Single Move — What’s Happening?
2024-12-07

A recent tweet issued by the Shibburn tracking platform shows that over the past day, the SHIB community has managed to scorch an impressive amount of meme coins, which exceeds a quarter of a billion SHIB. The majority of this amount was burned in a single move by an anonymous whale.
In the meantime, the meme coin’s price continues it attempts to surpass the $0.000033 resistance level. After adding roughly 5.21% over the past 24 hours, the second largest meme coin in terms of market capitalization SHIB is changing hands at $0.00003105.
250 million SHIB torched in one go after 3-billion burns
Shibburn has reported that during the last 24 hours, the SHIB community has transferred a cumulative 273,823,767 SHIB to dead-end blockchain addresses, thus pushing the daily burn rate up 412%.
On the list of the burn transfers here one transaction particularly stands out as it made possible the staggering burn rate surge; 250,000,000 SHIB were shoveled to an unspendable wallet in one move from an anonymous address.
🔥🔥 250,000,000 $SHIB -> transferred to dead wallet. https://t.co/IR46aFrGvV
Mysterious SHIB burner revealed
This 250-million burn was followed by transactions that destroyed 17,009,546, 138,066 and 6,676,155 Shiba Inu. The chunks of 250 million and 17 million were burned by the same whale, according to the details provided by Shibburn.
A commentator under the tweet revealed that the 250,000,000 SHIB were burned by the @1cDream X user, founder of the CENT meme coin.
This is the third time over the past week that tremendous amounts of SHIB have been destroyed by creators of other cryptocurrencies. As reported by U.Today earlier, roughly 3,000,000,000 SHIB were transferred to dead-end wallets by the founder of the SquidGrow crypto Shibtoshi.