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HomeCrypto NewsMarketCommunity Burns 834 Million Shiba Inu in a Week

Community Burns 834 Million Shiba Inu in a Week


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Shiba Inu Community Torches Over 834 Million Shiba Inu (SHIB) Tokens in Week-Long Burning Frenzy.

Shiba Inu Community has made headlines again by burning many SHIB tokens in the past week. A total of eighty-two transactions were performed, resulting in the elimination of 834,804,461 (834.80M) SHIB.

Biggest Burn of The Week

The record-breaking burn occurred on March 21st when the Shiba Inu Community reduced the circulating supply of SHIB by a staggering 758,951,740 (758.95M) tokens through nine separate transactions. Koyo (KYO), a newly emerged token, was the biggest burner that day, sending a massive 733,024,321 (733.02M) SHIB to the inferno address in one transaction.

On the same day that is March 21, the Coinbase-associated wallet tagged “Coinbase 10” destroyed 18,323,408 (18.32M) SHIB in a separate transaction, further reducing the circulating supply of Shiba Inu tokens.

Past 24 Hours

Over the past 24 hours, Shiba Inu Community has eliminated 34,039,159 (34.03M) SHIB through nine separate transactions.

Mysterious Wallet

According to data from Etherscan.io, the unknown wallet has destroyed an enormous 10,052,157 (10.05M) SHIB in a single transaction executed approximately 14 hours ago from press time.

Mysterious Wallet Burned 1005 Million SHIB
Mysterious Wallet Burned 1005 Million SHIB

The wallet now holds 29,965,973 (29.96M) SHIB, valued at $315.24, suggesting that more SHIB burns might occur in the near future.

SHIB Super Store

In addition, the SHIB Super Store has tweeted that it has removed 9,674,374 (9.67M) SHIB from circulation forever in a single transaction using SHIB Burn Portal. Alongside the burns, the individual SHIB Burn project has also distributed 9.5 Million Shiba Inu among the Community as a reward.

24-Hour Burn Rate

These massive burns have caused the overall Shiba Inu burn rate to surge by 1107% over the past day.

Shiba Inu Burn Rate Surges Over the Past Day
Shiba Inu Burn Rate Surges Over the Past Day

As of writing, Shiba Inu is trading at the price of $0.00001051, down -0.32% over the past day with a 24-hour trading volume of $134,941,972 ($134.94M).

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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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