Over 170.71 Million Shiba Inu tokens burned in the past week and 24.22 Million in the past 24 hours.
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.
In the last 7 days, there have been a total of 170,718,939 $SHIB tokens burned and 59 transactions. #shibarmy
— Shibburn (@shibburn) March 5, 2023
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.
In the past 24 hours, there have been a total of 24,223,415 $SHIB tokens burned and 5 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) March 6, 2023
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.
Burn/Reward
9.45M Burn
9.4M Reward$210 total
Very slightly above last week, great job everyone who is still participating!
Join the Cantina discord through the link on https://t.co/d0goxr6sys to receive the weekly rewards. https://t.co/LtozJ8fBik pic.twitter.com/m5w8UNhl97
— SHIB Super Store (@shib_superstore) March 6, 2023
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.
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.
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