12.42 Billion Shiba Inu Tokens Burnt In 24 Hours.
Shiba Inu Community has burned over 12.42 billion SHIB in the last 24 hours. Thanks to the first distribution of ShibaBurn Rewards.
Shibburn.com recently reported via tweet that within the last 24 hours, 130 transactions have been made, through which 12,421,420,499 (12.42B) SHIB, worth $143,964 were destroyed, with the help of SHIB Burn Portal.
In the past 24 hours, there have been a total of 12,421,420,499 $SHIB tokens burned and 130 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) May 19, 2022
On May 18, the mysterious wallet set a new burning record by burning 10 billion SHIB, worth $124,300 in one significant transaction. This is recorded as one of the largest community-led burns in history so far, the biggest one in a single transaction, and also the biggest one since the Burn Portal launch.
The massive burn transaction comes after an official partner token of the Shiba Inu ecosystem; RYOSHI Vision declared that they have distributed the first much-awaited ShibaBurn Rewards in the form of RYOSHI Vision tokens among SHIB Burners. This distribution of rewards among SHIB Burners bolsters the confidence of the Shiba Inu Community in the project.
SHIB Burn Portal is developed by the Shiba Inu team in collaboration with Ryoshi Vision, and officially went live on 23rd April 2022 (a month ago). The portal allows SHIB holders to earn passive income by destroying SHIB tokens i.e., the holders of the most popular dog-themed cryptocurrency will receive RYOSHI tokens in exchange for burntSHIB tokens. The development aims to make SHIB scarcer, which could potentially boost the token’s price.
As per Shibaburn.com data, a total of 410,361,374,168,020 (410.36T) SHIB tokens have been burned from the initial supply of 1 Quadrillion tokens, whereas 553,792,821,891,168 (553.79T) SHIB tokens are currently in circulation and 35,845,803,940,810 (35.84T) are staked by holders on ShibaSwap.
At the time of writing, Shiba Inu is trading at the price of $0.00001146, down -7.11% over the last day, with a 24-hour trading volume of $460,500,265 ($460.50M).
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