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HomeCrypto NewsMarket54M Shiba Inu Burned in Week, 23M Shib in 24 Hours

54M Shiba Inu Burned in Week, 23M Shib in 24 Hours


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Shiba Inu Burns continue to reduce supply on regular basis.

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In the past 24 hours, 23.4M Shiba Inu were burnt.

Stats further show that above 21M coins were burnt in an hour in two transactions.

Weekly Burns

Over 54.93 Million Shiba Inu (SHIB) were destroyed in the past week. The biggest Weekly Burn was performed by the Community-led SHIB Burn initiative named “SHIB Super Store” and a mysterious wallet on January 30th.

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The biggest SHIB burn of the week took place on January 30th, when the mysterious wallet and “SHIB Super Store”, collectively sent a staggering 21,994,860 (21.99M) SHIB to the inferno” address via two separate transactions. SHIB Super Store incinerated 11,839,731 (11.83M) SHIB, whereas the mysterious wallet burned 10,155,129 (10.15M) SHIB.

Followed by the recent burn, Shiba Inu continues to make headlines and set new records since the start of the New Year. The canine-themed cryptocurrency has recently reclaimed its $8 billion market capitalization, flipping Polkadot (DOT) to become the 12th biggest cryptocurrency in the world based on market capitalization. As of writing, Polkadot has a market capitalization of $7,644,893,806 ($7.64B).

The impressive performance of Shiba Inu can be attributed to its 21.28% rise over the past week, outperforming the global crypto market.

On the other hand, Shiba Inu has been making significant progress and solidifying its position as a leading player in the cryptocurrency market, particularly with regard to adoption. Recently, the usage of Shiba Inu for payments reached a new record high through FCF Pay’s virtual debit card service. As reported by The Crypto Basic, this notable development came a day after FCF Pay added support for the two tokens in the Shiba Inu ecosystem, BONE, and LEASH, to its virtual debit card service.

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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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