[ccpw id="39382"]

HomeCrypto NewsMarket170M Shiba Inu Burned in a Week, 24M in a Day

170M Shiba Inu Burned in a Week, 24M in a Day


Written By:

Latest News

- Advertisement -

Over 170.71 Million Shiba Inu tokens burned in the past week and 24.22 Million in the past 24 hours.

- Advertisement -

The Shiba Inu Community’s efforts to reduce the massive supply of SHIB continue to gain momentum. Over the past seven days, the Community-led burn initiatives have permanently locked a huge 170,718,939 (170.71M) SHIB into a dead wallet through 59 separate transactions.

The highest weekly burn was on Monday, 27th Feb, when an unknown wallet burned 63.86 Million in a single transaction, while Over 85 Million Shib were burned that day.

The second most significant weekly burn happened on March 3rd, where Over 43.19 Million Shib were burned on the day, with 23 Million in a single transaction.

24 Hours Burns

In the past 24 hours alone, the Community-led burn initiatives burned an additional 24,223,415 (24.22M) SHIB through five separate transactions.

- Advertisement -

Among the 24-hour burns, the well-known “SHIB Super Store” burned the most SHIB over the past day through its Weekly Burn Event. The Store reported an impressive 9,459,459 ($9.45M) transfer to the “inferno” address in one significant transaction.

In a tweet, SHIB Super Store reported the distribution of additional 9.4 million tokens among the Community as a reward.

Shiba Inu has made notable progress in the crypto market recently. As reported earlier by The Crypto Basic, CoinMarketCap has ranked Shiba Inu and its governance token, Bone ShibaSwap (BONE), as the most trending coins of the week, with Shiba Inu taking the top spot while Bone ShibaSwap ranking at the tenth position.

Additionally, BTCC, a well-established fiat-crypto exchange, has added support for Shiba Inu and five other digital assets on its platform, making it possible for millions of users to purchase SHIB using fiat currency and trade with up to 50x leverage.

- Advertisement -


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.

More from Author