Shiba Inu (SHIB) Burn Rate Soars as SHIB Super Store Sends 11.32M SHIB to Dead Wallet in One Go.
According to Shib Burn, 11.3M SHIB were burnt in 24 hours.
In the past 24 hours, there have been a total of 11,321,176 $SHIB tokens burned and 1 transaction. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) May 1, 2023
Interestingly all of the burns came from SHIB Super Store, the project sends 11,321,176 (11.32M) SHIB to the dead wallet in a single transaction in the past 24 hours. In addition, the project has also rewarded the Community with 11 million SHIB via its Weekly Burn and Earn program.
Kind of a messy one this week, since the reward part was delayed from last week.
Bringing total this month to $1087, a $200 increase since last month.
Congratulations everyone, and keep burning!https://t.co/d0goxr6sys pic.twitter.com/9pMTdFAL0C
— SHIB Super Store (@shib_superstore) May 1, 2023
This move caused the overall SHIB burn rate to surge by 1439.92% compared to the previous day when only 1,562,938 (1.56M) SHIB was destroyed through two distinct transactions.
In weekly burns, Shiba Inu Community burned 22,184,222 (22.18M) SHIB through fourteen separate transactions in the past week.
In the last 7 days, there have been a total of 22,184,222 $SHIB tokens burned and 14 transactions. #shib
— Shibburn (@shibburn) April 30, 2023
As reported earlier by The Crypto Basic, Shiba Inu Community destroyed a record-breaking 3,269,676,832 (3.26B) SHIB in April.
On the other hand, Shiba Inu (SHIB) has achieved a significant milestone by garnering over 1.85 million watchlists on CoinMarketCap. Shib has also claimed the fourth spot on CoinMarketCap’s trending assets list.
Also, a recent partnership between Binance and ivendPay has paved the way for SHIB to be accepted as a mode of payment at over 400 global merchants.
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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.