Single Wallet Burns 10M Shiba Inu, 13.8M SHIB in 24 Hours

Over 13.81 Million Shiba Inu (SHIB) burned in the past 24 hours, 10.45 Million by a single wallet.

Shiba Inu Community has permanently removed a total of 13,816,880 (13.81M) SHIB from circulation through five individual transactions in the past 24 hours.

In the past 24 hours, there have been a total of 13,816,880 $SHIB tokens burned and 5 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

— Shibburn (@shibburn) May 8, 2023

SHIB Super Store

SHIB Super Store emerged as the biggest SHIB burner of the day. The prominent Shiba Inu Community-led burn project burned an impressive 10,455,764 (10.45M) SHIB in a single transaction, which occurred just three hours ago from the time of this report. The store has also announced a reward of 10.4M SHIB for the community as part of its Weekly Burn and Earn Program.

Burn/Reward!

10.4M Burned
10.4M Rewarded (Shortly)

Total of around $190

Good week this week, engagement is up all the way around, but CPM was low, and gas fees are insane right now.

Have a HUGE announcement either later this week or early next

Thanks everyone! pic.twitter.com/U2AtnqC1hc

— SHIB Super Store (@shib_superstore) May 8, 2023

The massive burn has caused the overall SHIB burn rate to gain slightly by 131.51% over the last day, where 4,530,164 (4.53M) SHIB were transferred to the dead wallet through five distinct transactions.

Weekly Burn

The Community has burned 3,981,194,931 (3.98B) SHIB through nineteen separate transactions in the past week.

In the last 7 days, there have been a total of 3,981,194,931 $SHIB tokens burned and 19 transactions. #shib

— Shibburn (@shibburn) May 7, 2023

Along with burns, Shiba Inu’s mainstream adoption is rapidly gaining momentum. The adoption has received a significant boost recently with the introduction of Binance Pay’s latest WooCommerce plugin, which enables over 40% of websites on the internet to accept SHIB as a form of payment.

As reported earlier by The Crypto Basic, the Shiba Inu team is in talks with Huobi, a prominent Seychelles-based exchange, and Certik, a leading blockchain, and smart contract security company, to launch a specialized cold wallet dedicated to the Shiba Inu ecosystem.