Here's Who Burned 173 Million Shiba Inu (SHIB) Tokens: Unexpected Discovery

Shiba Inu's supply continue to go down, especially thanks to whales like these two

has witnessed an astronomical rise of 19,000% in burn volume. This staggering increase has placed it under a magnifying glass in the cryptocurrency community.

A closer examination of burner addresses has revealed intriguing transactional behavior from certain wallets that have engaged in SHIB token burning. One such OpenSea user, with the wallet identifier"0x75d," has shown considerable activity in this regard. The profile screenshot from a blockchain analytics platform offers insights into their recent transactions.

Moving on to the second notable wallet, the Coinbase #10 hot wallet, the story becomes less clear. The movement of funds from this wallet to a burn address could, as speculated, be an accidental transfer. The hot wallet is commonly used for withdrawal transactions, and given the large user base of Coinbase, it would be challenging to determine the specifics without more detailed transaction data. However, the fact that funds have moved to a burn address is notable, albeit not particularly revealing about the user's intentions or identity.holders to use token burning as a strategy to influence the token's scarcity and value.

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