Over 1.24 billion Shiba Inu (SHIB) burned in the past 24 hours, 1.23 billion by a single wallet.
In a surprising turn of events, Shiba Inu Community has transferred 1,240,951,903 (1.24B) SHIB to the dead wallet. This remarkable feat was achieved through three individual transactions in the past 24 hours. Blaze Token executed the most significant burn transaction of the day.
In the past 24 hours, there have been a total of 1,240,951,903 $SHIB tokens burned and 3 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) May 23, 2023
Blaze Token, a newly emerged token, made a groundbreaking move by permanently removing a record 1,238,951,893 (1.23B) SHIB from circulation in a single transaction executed about 12 hours ago from press time. This latest burn brings Blaze Token’s total number of burned SHIB to a staggering 7,955,814,803 (7.95B).
?BURN ANNOUNCEMENT ?$SHIB BURN 1,238,951,893 BILLION ???$BLZE BURN 441,720,872 MILLION ???
TOTAL TO DATE $SHIB BURN
? 7,955,814,803 BILLION ?
TOTAL TO DATE $BLZE BURN
? 8,326,560,479.21 BILLION ?#SHIBARMY #SHIBBURN #CryptoNews
— Blaze Token (@blaze_token) May 22, 2023
Shibburn.com has also confirmed this transaction via tweet.
The massive burn transaction has caused Shiba Inu’s burn rate to increase by 2344.56% over the past day, where 50,763,734 (50.76M) SHIB were burned through three separate transactions.
As reported earlier by The Crypto Basic, the Shiba Inu community has unveiled an exclusive leak of the much-awaited SHIB burn portal on Shibarium – Layer 2 Network. The portal’s design suggests that Shibarium would convert BONE tokens into Shiba Inu. These converted SHIB tokens will then be dispatched to the burn address, significantly reducing the overall supply of SHIB tokens.
In addition, Shiba Inu recently secured the listing on two major exchanges, including a Bahrain-based exchange, CoinMENA, and Digitra.com, a Brazilian-based exchange.