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Shib Burn In Billions Continue, As 2 Billion Shiba Inu Burnt In 24 hours

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Shiba Inu (SHIB) Burning Saga Continues; Another 2 Billion SHIB Permanently Removed From Circulation.



Shibburn.com recently reported that within the last 24 hours, 159 transactions were made, through which 2,030,364,253 (2.03B) dog-themed tokens have been taken out of circulation forever, with the help of a new burn portal.

The burn rate appears to surge 184.24% over the last day when 712,842,408 (712.84M) SHIB tokens were burned through 115 separate transactions.

On April 23, 2022 (6 days ago), the “SHIB Burn Portal” was officially launched on ShibaSwap and now the tokens are being burned in billions per day instead of millions. In this way, “Burn Portal” appears to be a major success for the Shiba Inu ecosystem.

Within 6 days of launch, 19,737,327,938 (19.73B) SHIB, worth $452,379 were taken out of circulation forever through hundreds of transactions by the burn portal.

As reported earlier by TheCryptoBasic, a total of 1,461,828,101 (1.46B) SHIB were permanently removed from circulation through 160 transactions on April 27th, 5 Billion Shiba Inu Burnt on April 26th, and a single unknown wallet burnt more than 1B shib on April 25th, all happening after Shib Burn portal launch.

Shiba Inu (SHIB) remains under some mild selling pressure despite the massive burn. At the time of writing, SHIB is seen trading at the price of $0.00002289, down -1.52% over the last day, with a 24-hour trading volume of $499,835,064 ($499.83M).

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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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