40M Shiba Inu Burned Over Weekend, 196M in 7 Days

During the weekend, over 39.82 Million Shiba Inu (SHIB) were burned, with 11.83 Million being burned in a single transaction by a prominent SHIB Burn Project.

The Community-led SHIB Burn initiatives collectively sent a total of 39,829,430 (39.82M) SHIB to the “inferno” address through 27 individual transactions over the weekend.

On January 27th, 13,265,451 (13.26M) SHIB were destroyed, followed by 4,388,672 (4.38M) on January 28th and 22,175,307 (22.17M) on January 29^th, as per data provided by Shibburn.com.

SHIB Super Store

The most prominent SHIB Burn Project dubbed “SHIB Super Store” recently announced that it has sent a staggering 11,839,731 (11.83M) SHIB to the dead wallet in a single transaction using the official SHIB Burn Portal.

Burn and Reward!

11.8M Burned
11.5M Rewarded (rewards sending soon)

A detailed explanation on the delay of the Bricks Buster tournament rewards will be in a follow up tweet.

Thanks everyone! Congrats to everyone holding right now!https://t.co/d0goxr70o0 pic.twitter.com/06i63xQecn

— SHIB Super Store (@shib_superstore) January 30, 2023

Past 7 Days Burns

Overall, the Shiba Inu Community put a match to 196,812,147 (196.81M) SHIB through 57 separate transactions in the past seven days, Shibburn.com reports.

In the last 7 days, there have been a total of 196,812,147 $SHIB tokens burned and 57 transactions. #shibarmy

— Shibburn (@shibburn) January 29, 2023

Recall that the burn rate of Shiba Inu tokens saw a dramatic increase of 21712% on January 26^th. As reported by The Crypto Basic, this was due to a relatively small number of tokens being burned the previous day, specifically only 100,000 SHIB on January 25th, this led to a significant spike in the burn rate when compared to the 21,812,209 (21.81M) SHIB burned on January 26^th.

Shiba Inu Keeps Building

Apart from a community effort to reduce the massive supply, Shiba Inu’s mainstream adoption is also on the rise. Recently, Bahrain’s real estate developer, Bin Faqeeh announced a partnership with Binance Pay, which will allow customers to make payments using SHIB and various other cryptocurrencies. Additionally, Bermuda Privacy dApp, a platform that values privacy, has also added support for SHIB, allowing users to trade the token anonymously.