Shib Army Strikes Again: Burns More Than 1.91 Billion SHIB in One Week.
In a major development, the Shiba Inu Community successfully burned a whopping 1,915,379,282 (1.91B) SHIB through 50 separate transactions.
In the last 7 days, there have been a total of 1,915,379,282 $SHIB tokens burned and 50 transactions. #shib
— Shibburn (@shibburn) April 16, 2023
This represents a massive 63% surge in burn rate compared to the previous week when 1,178,830,489 (1.17B) SHIB were removed from circulation through 26 separate transactions.
Weekly SHIB Burns
The past week witnessed some of the largest SHIB burn transactions ever recorded.
Koyo (KOY) Destroyed 1.49B SHIB
Among these transactions, Koyo (KOY), a newly launched token, made waves by destroying a whopping 1,494,278,561 (1.49B) SHIB in a record-breaking transaction on April 14th. This has earned Koyo the title of the biggest SHIB burner of the week.
cultpunks.eth Burned 230.79M SHIB
However, Koyo wasn’t the only project making headlines. The week’s second-biggest SHIB burner was a wallet tagged “cultpunks.eth” that removed a massive 230,799,740 (230.79M) SHIB from circulation forever in one notable transaction on Sunday, April 16th, 2023.
?? 230,799,740 $SHIB -> transferred to dead wallet. https://t.co/SnbGxQ0THu
— Shibburn (@shibburn) April 15, 2023
Mysterious Wallet
Coming in third was the mysterious wallet, which set fire to an enormous 46,877,110 (46.87M) SHIB in one significant transaction on April 9th.
Uniswap-associated Wallet
Last but not least, the Uniswap-associated wallet has also made its mark as the fourth biggest SHIB burner of the week. The wallet burned 43,564,865 (43.56M) SHIB in one robust transaction on April 9th.
Past 24 Hours Burn
Shiba Inu Community has collectively removed 32,026,199 (32.02M) SHIB from circulation forever through ten separate transactions in the past 24 hours.
In the past 24 hours, there have been a total of 32,026,199 $SHIB tokens burned and 10 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) April 17, 2023
The major burn transaction of the day comes from the well-known SHIB burn project, SHIB Super Store. The individual burn project has incinerated a whopping 9,245,529 (9.24M) SHIB in one notable transaction executed about three hours ago from press time. In addition, SHIB Super Store officially confirms the distribution of 9.1 million SHIB among the Community as a reward.
Burn/Reward!
9.2M Burned
9.1M RewardedTotal of about $212
Slightly lower than last week, but we are on track to beat last month by quite a bit, great job to everyone participating!https://t.co/d0goxr6syshttps://t.co/AjRH4ZQu9N pic.twitter.com/fgo8sqwh02
— SHIB Super Store (@shib_superstore) April 17, 2023
The intense Shiba Inu burn activity has helped SHIB’s price to increase by 7% over the past week. As of press time, Shiba Inu is trading at the price of $0.00001166, up 2.2% over the past day with a 24-hour trading volume of $374,493,817 ($374.49M).
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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