This week, a Shiba Inu whale carried out significant token burn transactions, drawing attention from the crypto community. Let's examine the details and reactions.
Major SHIB Token Burn Transaction
A Shiba Inu whale executed a significant burn transaction, sending one billion SHIB to a dead wallet. The transfer was tracked through Etherscan and confirmed approximately six hours after it took place. This was the second such transaction from the same wallet within the week. In total, over two billion SHIB tokens were burned. Additionally, the same wallet was observed burning BONE and LEASH tokens shortly after unstacking them from ShibaSwap.
Link to CENT Project
On March 24, the CENT meme coin project publicly claimed responsibility for the initial billion-token burn. The project expressed intentions to conduct more burns in the future. Just days later, another one-billion SHIB transaction followed, suggesting that the CENT team followed through on its commitment. Over 1,006,913,405 SHIB tokens were burned within 24 hours. This was the largest single burn, followed by 16 smaller transactions, marking a 57,000% increase in burn rate compared to previous activity levels.
SHIB Community Reaction
Lucie, the official SHIB marketing specialist, acknowledged the large transaction and highlighted the identical wallet used for both burns. She shared a screenshot of the transaction, underlining the scale and consistency of the token burns by this anonymous entity. In addition to burn news, the SHIB team announced a new feature called SHIB Pay. This tool enables users to make direct crypto payments without intermediaries, supporting merchants and users with low fees and faster settlements.
Such large-scale token burn transactions significantly impact the crypto community, and innovations like SHIB Pay may transform how cryptocurrency is utilized.
