Over 43.19 Million Shiba Inu (SHIB) burned in the past 24 hours, 23 Million in a single transaction.
The Shiba Inu Community removed a whopping 43,192,603 (43.19M) SHIB from circulation forever through nine individual transactions in the past 24 hours.
In the past 24 hours, there have been a total of 43,192,603 $SHIB tokens burned and 9 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) March 3, 2023
This is a remarkable achievement, especially compared to the previous day, when only 539,295 Shiba Inu tokens were destroyed in two transactions, resulting in an unprecedented surge of 7909% in the SHIB burn rate.
The wallet tagged “thehammerman.eth” has burned the highest number of Shiba Inu tokens in the past day. As per data provided by Etherscan.io, this wallet sent a massive amount of 23,000,000 (23M) SHIB to the “inferno” address in a single transaction, which was carried out just an hour ago from the time of writing. After this significant burn, the wallet still holds only 40,177,592 (40.17M) SHIB.
Besides 24-hour burn, SHIB Army has incinerated 352,210,738 (352.21M) SHIB through 128 separate transactions in February compared to January, where 1.12 Billion Shib were burnt. This shows a significant decline in burns in February, but March has started with a massive spike in SHIB burns. Let’s see if Shib burns can cross a billion in March.
On the other hand, the native gas token of Shiba Inu’s L2 Network, Bone ShibaSwap (BONE), is garnering attention from major exchanges. As reported by The Crypto Basic, the major exchange with over 50 million registered users, Crypto.com has recently added support for BONE on its platform.
Meanwhile, Shytoshi Kusama, the lead developer of SHIB hinted at the possible release of Shibarium Beta in the coming days. Nevertheless, Kusama advised the community to refrain from buying any token or product available on Shibarium during the beta phase and wait until the mainnet comes.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
