The Shiba Inu Burn Tracker recorded a 10,129% increase in SHIB destroyed in the last 24 hours

The price of Shiba Inu (SHIB) soared by 22 per cent over the last week, surpassing most of the crypto market. And the positive news does not stop before Shibarium is rumoured to hit the market next week, February 14.

The Shiba Inu Burn Tracker recorded a 10,129 per cent rise in SHIB burnt during the past 24 hours. Over 20.97 million SHIB were burned in five transactions during the past 24 hours, with 19.40 million coming from a single transaction accounting for most of the burn.

As the previous day’s burn rate was very low at just 205,000 SHIB across two transactions, this represents a 10,129 per cent rise during the past 24 hours. The reason for the apparently huge rise is therefore somewhat unexciting, mainly when one considers that there have been repeated days in recent months on which over 20 million SHIB were burned.

Already on Monday, 22.3 million SHIB were burnt forever in three transactions. On January 24, the Shiba burn hit its YTD high of over 110 million SHIB in one day.

Nonetheless, the sender of yesterday’s huge transaction is intriguing. The considerable burn was done by Singapore-based crypto currency exchange Crypto.com. According to data from Etherscan.io, the Crypto.com 2 wallet that accounted for the huge transaction moved the 19.40 million SHIB to the ‘dead’ wallet.

In related news, the entire Shiba Inu network has hit a significant landmark. The total number of unique addresses containing assets in the network has risen to more than 1.3 million. More than 25,000 new addresses have been added since the beginning of 2023.

Already since the end of November, Shiba Inu has seen a consistent rise in new addresses with assets above 0 SHIB. As of November 29, there were 1.249 million addresses. Therefore, the network has seen over 50,000 new addresses during the past two months.

The boost also comes at a time when the network is seeing increased activity from large investors or whales.

Currently, the Shiba Inu price sits at $0.00001409, seeing a consolidation following the quick increase in recent days.