Saturday, November 26, 2022
HomeCrypto NewsMarketNew Record: The Highest Ever Monthly Community Burn, 26 Billion Shiba Inu...

New Record: The Highest Ever Monthly Community Burn, 26 Billion Shiba Inu Burnt In April; 34B SHIB Since Start of 2022

- Advertisement -


26.10 Billion Shiba Inu (SHIB) Burnt In April; 34.97 Billion SHIB Since The Start of New Year 2022, All Thanks to Launch of “SHIB Burn Portal”

Shiba Inu Community sets a new record of burning SHIB in one month. Over 26.10 billion Shiba Inu (SHIB) tokens were taken out of circulation in April 2022. All Thanks to the “SHIB Burn Portal”. recently released a monthly burn figure and reported that 26,109,968,050 (26.10B) SHIB tokens had been permanently removed from circulation by the community in April 2022 of 1,974 separate burns. This marks the record month for Shiba Burning, as this figure is a whopping 331% higher than the previous month when only 6,050,996,291 (6.05B) SHIB tokens had been burned.

The massive burn comes after the team behind the Shiba Inu token officially launched the “SHIB Burn Portal” on April 23, 2022, in collaboration with Ryoshi Vision, one of the official partner tokens of the Shiba Inu ecosystem. Through “Burn Portal” the team encourages individuals and businesses to contribute towards burn while rewarding them with Ryoshi Vision tokens (a form of passive income).

SHIB Burn Portal appears to be a BIG SUCCESS, as the portal came into being just 9 days ago and has burned a whopping 22.5 billion SHIB through nearly a thousand transactions, as per a recently posted tweet from one of the official SHIB Growth Breed member, Archangel.

The launch of the portal literally gives a push to community-led burning initiatives and proved to increase the burn rate manifolds. Since the start of the New Year 2022, the community is noticing a continuous increase in burning figures every month.

In the month of January, the community-led burning initiatives have burned 1,321,145,209 (1.32B) SHIB, whereas, 1,495,356,204 (1.49B) SHIB have been sent to dead wallet in February. The burn rate skyrockets in March, when 3 newly emerged SHIB-inspired tokens burned over 3 billion tokens in a month. In doing so, 6,050,996,291 (6.05B) SHIB has been taken out of circulation forever in the month of March alone.

In this way, 34,977,465,754 (34.97B) SHIB has been permanently taken out of circulation within the period of just 120 days (4 months). Therefore, the Year 2022 can be named “SHIB Burn Year”.

Overall, a total of 410,336,420,918,531 (410.33T) SHIB has been taken out of circulation forever till now from the initial supply of 1 quadrillion tokens. The total supply stands at 589,663,579,081,468 (589.66T), out of which 37,077,495,584,383 (37.07T) tokens has been staked in ShibaSwap by the holders. Hence, the current circulating supply comes out to be 552,586,083,497,085 (552.58T).

- Advertisement -
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.

Disclaimer: The content is for informational purposes only, 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.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.