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HomeCrypto NewsMarket102M Shiba Inu Burned in a Week, CryptoCom Burns 34M

102M Shiba Inu Burned in a Week, CryptoCom Burns 34M


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Shiba Inu Community Burns Over 102 Million SHIB in a Week; Crypto.com’s User Makes Biggest Contribution.

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The Shiba Inu Community continues to make headlines in crypto as they burn millions of tokens weekly. This week was no exception, with 102,145,155 (102.14M) SHIB permanently removed from circulation through 28 transactions.

The most significant contributor to the Shiba Inu burn this week was Crypto.com’s related wallet sent an impressive 34,900,000 (34.90M) SHIB to the inferno address in one large transaction. The transaction was performed on February 12th, 2023, at 12:23:11 AM +UTC.

Cryptocom related wallet burns 35M Shiba Inu
Image source httpsetherscaniotx0xecd7cf1bbd1135da488c9a9b110acbb100375bcab5b640f8508f21cd609479e1

The members of the Shiba Inu Community show no signs of slowing down as they continue their efforts to reduce the overall supply of SHIB. They started the new week with a bang by permanently removing 39,515,844 (39.51 million) SHIB from circulation on the first day of the week. As reported by The Crypto Basic, this impressive burn was a joint effort by Binance affiliated wallet and the famous SHIB Super Store. The two wallets combined burned 26,284,073 (26.28 million) SHIB in two separate transactions.

Besides Shiba Inu burns, SHIB also becomes the top ETH Whales’ top favorite token. As per data provided by WhaleStats, the 100 biggest ETH whale wallets are holding an impressive $666,300,027 ($666.30M) worth of SHIB.

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Recently, Binance officially incorporated Shiba Inu (SHIB) into its Proof of Reserves (PoR) system and three other popular assets. The inclusion is a step forward in Binance’s efforts to improve the transparency of its PoR system for its customers and to make it more secure by utilizing zk-SNARK technology.

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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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