Popular Onchain Data Platform Shibburn

Popular onchain data platform Shibburn, which tracks SHIB burn transactions on the Ethereum chain and shares the details on its website and X handle, has noticed a massive SHIB transaction that proved to be a burn transfer.

20,000,000 SHIB Burned in a Single Move

A significant amount of meme coins has been destroyed in just minutes – 20,000,000 SHIB disappeared into a virtual furnace, i.e., an unspendable blockchain address. According to the aforementioned source, the burn was conducted by an anonymous whale who purchased the SHIB chunk and then sent it out of the circulating supply.

> 🔥 20,000,000 $SHIB -> transferred to dead wallet. Source
> — Shibburn (@shibburn) March 4, 2025

Overall, today, the SHIB community has successfully destroyed 20,794,281 SHIB, increasing the daily burn rate by 34.24%.

As for the weekly burns, 122,135,883 SHIB have been destroyed over the past seven days. In total, the SHIB community, together with the Shiba Inu developer team, has managed to dispose of 410,744,744,227,515 SHIB. 410,744,744,227,515 Shiba Inu continue to circulate.

SHIB Price Down 15.78%

Meanwhile, the price of the prominent meme-inspired cryptocurrency Shiba Inu has dropped by almost 16% over the past 24 hours. After SHIB lost the $0.00001517 level on Monday, it is currently trading at $0.00001286.

This decline followed an 11.24% surge experienced by the meme coin on Sunday, when the US president greenlighted the US Strategic Crypto Reserve. This reserve, according to his posts on Truth Social, will include not only crypto giants Bitcoin and Ethereum but also top-ten altcoins like ADA, XRP, and SOL.

Bitcoin soared by more than 10% on Trump’s announcement, pulling the entire crypto market upward. However, it later crashed by 12.18%, sharply declining from $94,240 to the $82,760 zone. Currently, Bitcoin has shown a marginal recovery of 2.6%, trading at $84,830 per coin.