Over 15 Billion SHIB Burned in May 2023.
SHIB Army burned over 15 billion SHIB in May 2023. Blaze Token emerges as the Top SHIB Burner of the month. MARSWAP (MSWAP) and Coinbase 10 also made significant contributions.
Shiba Inu Community has permanently removed a total of 15,369,335,177 (15.36B) SHIB from circulation in May 2023. This remarkable achievement was accomplished through 191 separate transactions, which saw the community’s collective effort toward burning SHIB tokens.
??? 15,369,335,177 $SHIB tokens have been burned in the month of May with 191 transactions. #shib
— Shibburn (@shibburn) June 1, 2023
This marks a notable increase of 370% in burn rate compared to the past month, where 3,269,676,832 (3.26B) SHIB were destroyed through 125 individual transactions.
Blaze Token
Blaze Token, a community-driven project launched on May 1st, has emerged as the top SHIB burner of the month. The project permanently eliminated 11,557,310,052 (11.5B) SHIB from circulation through five distinct transactions.
On May 29th, Blaze Token executed the largest burn transaction of the month by sending 3,601,495,249 (3.60B) SHIB to the dead wallet.
Blaze Token also burned significant amounts on other dates, including 2,005,265,274 (2B) SHIB on May 2nd, 1,695,524,269 (1.69B) SHIB on May 8th, 3,016,000,000 (3.01B) SHIB on May 15th, and 1,238,951,893 (1.23B) SHIB on May 22nd.
MARSWAP
MARSWAP, a newly launched token on ShibaSwap DEX, has secured second on the list of “Top SHIB Burners” of the month. The project has set fire to a humungous 1,350,604,128 (1.35B) SHIB through one hundred separate transactions on May 24th.
Coinbase-associated Wallet
In addition to these notable burners, a Coinbase-associated wallet, labeled Coinbase 10, has also played a part in reducing the SHIB supply. The wallet destroyed an impressive 200,583,666 (200.58M) SHIB in a single transaction on May 28th.
The intense burn activity over the past month has failed to build positive momentum around the Shiba Inu price. Shiba Inu has lost 13.7% of its value in the past 30 days.
As of press time, Shiba Inu is trading at $0.00000854, down 0.10% over the past day, with a 24-hour trading volume of $127,335,523 ($127.33M).
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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