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2 Billion Shiba Inu Burnt Within 7 Days, 185 Million In 24 hours

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Over 1.99 Billion Shiba Inu (SHIB) Burnt Within 7 Days.



Over 1.99 billion Shiba Inu (SHIB) tokens have been taken out of circulation within the last seven days, and over 185.39 million SHIB during the previous 24 hours.

Shibburn.com recently reported 62 transactions towards the dead wallet during the last week, through which community-led burning initiatives have burned a total of 1,992,393,933 (1.99B) dog-themed tokens.

Top SHIB Burner of the Week:

Two newly emerged tokens, ScareCrow (SHIB Protector) and 1Cent contributed the largest share and appeared to be the top SHIB burner of the week.

ScareCrow (SHIB Protector) Auto-Burn Mechanism:

ScareCrow (SHIB Protector), a new token supporting SHIB burn, uses a unique auto-burn mechanism to burn SHIB. The token applies a 3% Buy Tax, 8% Normal Sell Tax, and 25% Early Sell Tax on holders that sell Scarecrow tokens within 24 hours of buying. ScareCrow automatically uses the taxed amount to buy SHIB and burns whenever someone buys or sells tokens.

On Saturday, the ScareCrow auto-burn mechanism did magic and sent 1,248,074,298 (1.24B) SHIB tokens to dead wallets through 10 separate transactions as per data provided by Shib Burn.

1Cent Weekly Burn Event:

1Cent is another newly emerged token that supports SHIB burn. 1Cent has organized an official Weekly SHIB Burn Event on 4th April 2022. Through this event, the team behind the newly emerged token had sent a total of 161,397,653 (161.397M) SHIB to the dead wallet in one transaction.

The “1Cent” token is just four weeks old, and since its inception, the project claims to send 1,166,115,610 (1.16B) Shiba Inu tokens to the dead wallet, permanently taking them out of circulation.

Past 24 Hour Burn:

Besides weekly burn, 185,395,244 (185.39M) SHIB tokens have been reportedly sent to dead wallets through 16 separate transactions by the community-led burning initiatives.

Current Circulating Supply:

As per data provided by Shibburn.com, a total of 410,311,870,766,853 (410.31T) Shiba Inu has been taken out of circulation forever from the initial supply of 1 quadrillion tokens. At the same time, 39,272,772,415,210 (39.27B) of SHIB has been staked by holders on ShibaSwap. In this way, the current circulating supply of SHIB comes out to be 550,415,356,817,936 (550.41T) tokens.

Current SHIB Price:

At the time of writing, Shiba Inu is trading at $0.00002437, down -1.13% over the last day. A 24-hour trading volume for the popular dog-themed cryptocurrency is up 17.67% compared to the previous day and currently stands at $631,048,409 ($631.04M).

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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