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HomeCrypto NewsMarketShiba Inu Weekly Burns Spike As Koyo Burns 1.1B SHIB

Shiba Inu Weekly Burns Spike As Koyo Burns 1.1B SHIB


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Shiba Inu’s Burn Rate Reaches Record High as Koyo (KOY) Burns Over 1.10 Billion SHIB in a Single Transaction.

Shiba Inu (SHIB) is making headlines again as its overall burn rate surges to a record level. According to a recent report by Shibburn.com, the Community has collectively reduced a gigantic supply of Shiba Inu by a record 1,178,830,489 (1.17B) SHIB via twenty-six separate transactions in the past seven days.

Koyo Burned 1.1 Billion SHIB

Koyo, a newly launched token on the ShibaSwapDEX, has made history with its latest burn transaction. On Sunday, the token burned a herculean 1,104,224,812 (1.10B) SHIB, worth $12,091 in a single transaction, making it the top SHIB contributor of the week.

This isn’t the first time that Koyo has made such a significant contribution to the Shiba Inu burning campaign. The token previously set a record of burning 924,150,949 (924.15M) SHIB tokens in a single transaction on March 17th, demonstrating its unwavering commitment to the cause.

Since its inception, Koyo has burned 7,263,287,292 (7.26B) SHIB tokens across multiple transactions.

Koyo Removed 726 Billion SHIB From Circulation in Past 30 Days
Koyo Removed 726 Billion SHIB

The impact of Koyo’s burn was significant, with Shiba Inu’s overall burn rate skyrocketing by over 2,169653.23% compared to the previous day, i.e., April 8th, when only 20,000 SHIB were permanently taken out of circulation.

Shiba Inu Burn Rate
Shiba Inu Burn Rate

Koyo’s Creator, Kintaro claims the recent massive SHIB burns are just the beginning as the project eyes to become the first billion-dollar market cap project to launch exclusively on Shibarium, with the potential to bring record continuous burns for Shiba Inu in the long run.

Koyo team says they will do their best to take Shiba Inu to $0.01 by reducing the SHIB huge supply.

As of press time, Shiba Inu is trading at the price of $0.00001095, up 0.32% over the last day, with a 24-hour trading volume of $123,293,841 ($123.29B).

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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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