Shibburn incinerates 127.82M Shiba Inu tokens in one transaction.
@Shibburn, the official Twitter handle that tracks Shiba Inu burns, has burned an astounding amount of the canine-themed cryptocurrency. In a tweet today, Shibburn burned 127,821,443 (127.82M) SHIB tokens in a single transaction.
— Shibburn (@shibburn) November 22, 2022
According to SHIB Burn blockchain data, the transaction occurred today at exactly 16:24 (UTC). At the current rate of $0.00000868, the tokens were worth $1,109. In a follow-up tweet, Shibburn noted that the number of tokens incinerated was obtained from one of the three methods it uses to burn SHIB.
“This is one part. We are still waiting for payments to come through for Shibburn Radio ads and Super Followers,” Shibburn noted.
Shibburn Contributing to Shiba Inu Burns
In recent times, Shibburn has joined members of the SHIBArmy to incinerate millions of tokens. Notably, Shibburn uses earnings from three of its projects, such as Shibburn.com, Shib Burn Radio, and Twitter Super Followers, to buy and burn SHIB. According to Shibburn, the three projects account for up to 40% of its entire revenue.
In a bid to accelerate SHIB burns, the official Shiba Inu burn tracker said it would use a substantial amount of its earnings to incinerate the tokens. However, the donations will only be made after the team has deducted taxes and expenses from the earnings.
Currently, we have 3 ways to help with burns. https://t.co/hn4uIaKrmA, @ShibburnRadio, and Twitter Super Follows. Our donations are not based on a specific percentage, we try to donate as much as possible after expenses and taxes. So far it's been 30% to 40% from our revenue.
— Shibburn (@shibburn) October 4, 2022
Recall that in September @Shibburn launched an entertaining way for the community to contribute to Shiba Inu burns. Shibburn launched a radio app for Android and iOS devices as part of efforts to increase the number of burned tokens.
Meanwhile, aside from the 127.82 million tokens burned by Shibburn, the community has also incinerated hefty amounts of SHIB. As reported by TheCryptoBasic, Shiba Inu enthusiasts burned 38.31 million SHIB tokens in one day.