#dead wallet

The post Shiba Inu Burns 117 Million SHIB in Largest Single-Day Destruction in Six Months appeared on BitcoinEthereumNews.com. SHIB News Shiba Inu’s community permanently removed more than 117 million SHIB tokens from circulation on July 8, the largest single-day burn recorded in six months. On-chain data shows the tokens were routed to a dead wallet, a one-way address from which they can never be recovered. A single wallet tied to Robinhood led the activity, torching over 109 million SHIB in one transaction, with smaller wallets contributing the remainder through the session. The spike briefly revived the project’s deflationary narrative, yet it landed against a backdrop of broad altcoin fatigue. For holders of Shiba Inu, the burn underscored how community-driven supply cuts continue even when price momentum stalls. Despite the deflationary headline, SHIB has slipped close to 9% over the past month, holding a narrow trading band even after a modest weekly gain. Our reading of the tape

The post SHIB Burn Rate Hits 6-Month High: Will Shiba Inu Price React? appeared on BitcoinEthereumNews.com. Shiba Inu’s community destroyed more than 117 million SHIB tokens on July 8, marking the largest single-day burn in six months. The deflationary spike, tracked by Shibburn, sent the tokens to a dead wallet, permanently removing them from circulation. The token has slipped nearly 9% over the past month even after a modest weekly gain. The asset has spent recent sessions confined to a narrow band, showing little sign of a breakout in either direction. That range has held even as burn headlines circulated across social media. SHIB Price Performance. Source: BeInCrypto Markets SHIB Burn Rate Jumps While Price Barely Moves A wallet linked to Robinhood led the day’s burn activity, torching over 109 million SHIB tokens in a single transaction, Shibburn data shows. Several smaller wallets contributed the remainder throughout the day. Despite the spike, Shiba Inu’s total supply destroyed