Shiba Inu Community Burns Record 6.78 Billion SHIB in March 2023.
The Shiba Inu Community has achieved a remarkable feat in reducing the massive supply of SHIB by a record 6,782,788,547 (6.78B) tokens in March 2023. This historic achievement was accomplished through 540 separate transactions, which saw the community’s collective effort toward burning SHIB tokens.
— Shibburn (@shibburn) April 1, 2023
Koyo (KYO), a community-driven project launched on March 10th, has emerged as the top SHIB burner of the month, removing a massive 6,159,062,480 (6.15B) token through multiple transactions. Koyo’s massive burning transactions highlight its commitment to reducing the supply of SHIB tokens.
On March 17th, Koyo executed the largest burn transaction by sending 924,150,949 (924.15M) SHIB to the dead wallet. Furthermore, on March 28th, Koyo set fire to a significant 794,858,822 (794.85M) SHIB in a single transaction, solidifying its position as the leading SHIB burner in the community.
In response to the massive burn, Shiba Inu’s demand has recently seen an uptick. Recently, the 254th biggest ETH Whale, tagged as “BlueWhale0073,” accumulated a whopping 99,297,904,247 (99.29B) SHIB, worth $1,058,515 ($1.05M) in a significant transaction.
Despite recent developments, SHIB holders have experienced losses or are at breaking even, with 71% of the investors affected. The majority of this group was impacted by the FUD campaign targeting Shibarium.
As of press time, Shiba Inu is trading at $0.00001077, up 1.37% over the last day, with a 24-hour trading volume of $193,116,155 ($193.11M).