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HomeCrypto NewsMarketKoyo Starts the Week with Massive 795M Shiba Inu Burn

Koyo Starts the Week with Massive 795M Shiba Inu Burn

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Koyo (KOY) Continues Burning Shiba Inu (SHIB), Torches another 794.85 Million in Record Transaction.

Koyo, a community-driven token launched on March 10th, has continued its burning spree and has recently burned another 794,858,822 (794.85M) SHIB using the official SHIB Burn Portal in a record transaction executed about an hour ago.

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@Tezza4Ryoshi Shared the achievement in the tweet:

This is the second significant SHIB burn transaction by Koyo in the last seven days, with the first being a whopping 733,024,321 (733.02M) SHIB burned on March 21st, 2023. In total, Koyo has permanently removed 6,159,062,480 (6.15B) SHIB from circulation through multiple transactions, using a 2% sell tax to burn Shiba Inu.
Koyo Burned Another 79485 Million SHIB
Koyo Burned Another 79485 Million SHIB

The recent massive transaction has caused Shiba Inu’s burn rate to skyrocket by 61765.36% over the last day when only 24,364,785 (24.36M) SHIB has been permanently taken out of circulation through eight transactions.

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SHIB Burn Rate Skyrockets Over the Past 24 Hours
SHIB Burn Rate Skyrockets Over the Past 24 Hours

Shiba Inu Community collectively has set fire to a humungous 834,804,461 (834.80M) SHIB through eighty-two separate transactions in the past week alone.

Following the development, Shiba Inu’s value rose 1.01% over the last day to $0.00001078, with a 24-hour trading volume of $199,282,511 ($199.28M).

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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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Zabi
Zabi
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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