Shiba Inu burn jumps 10,000% as the largest crypto-currency exchange sends millions to the burn address!

Crypto-currency exchange Crypto.com is sending 19,400,000 Shiba Inu tokens (SHIB) to the burn address, making the total SHIB burn increase by 10,109% in the past 24 hours.

The number of transactions burning SHIB tokens has declined in recent weeks as investors hold onto their SHIB tokens in anticipation of the launch of the Shibarium Layer-2 blockchain on Valentine’s Day, February 14.

Crypto.com sends over 19 million SHIB tokens to Burn Wallet

According to the Shiba Inu burn tracker Shibburn, a total of 20,929,491 SHIB tokens have been burned in the last 24 hours. Four transactions contributed to this burn to reduce the supply of outstanding Shiba Inu tokens.

In the past 24 hours, there have been a total of 20,929,491 $SHIB tokens burned and 4 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy

– Shibburn (@shibburn) February 8, 2023

The largest burn of 19,400,000 in the past 24 hours was by wallet address 0x463…758. Etherscan data revealed that the wallet address is linked to crypto-currency exchange Crypto.com, which burned more than 19 million SHIB on February 7 at 16:00 UTC.

The early launch of Shibarium, Shiba Inu’s Tier 2 blockchain solution, has led to a drop in the number of SHIBs burned in recent days. Investors are holding on to their SHIB tokens as lead developer Shytoshi Kusama hinted that the beta version of Shibarium would be launched on Valentine’s Day.

However, the Unification team working on Shibarium revealed in its developer update that the launch of Shibarium may be delayed. The community expects a launch in the first quarter of this year.

Shibarium will burn SHIB with every transaction. In addition, trillions of Shiba Inu will be burned and removed from circulation forever.

The price of Shiba Inu will reach 1 dollar?

The Shiba Inu community predicts that the launch of the Shibarium beta could propel prices to $1 this year. However, experts believe that $0.01 is still possible, but that $1 is a completely impossible goal to reach this year.

The price of SHIB has jumped nearly 2% in the past 24 hours, with the price currently trading at $0.00001423. The 24-hour low and high are $0.00001387 and $0.00001448 respectively.

Meanwhile, Shibarium’s gas token, BONE, is trading at $1.82, up nearly 2% from a 24-hour low of $1.75.