282M Shiba Inu Burnt in a Week As Burn Rate Falls 93%

Shiba Inu Weekly Burn rate falls.

Shiba Inu has witnessed a substantial decline in weekly burn rate as the Community has managed to burn over 282.73 million SHIB in the past week.

In a recent report, Shibburn.com revealed that the Shiba Inu Community removed 282,730,986 (282.73 million) SHIB through twenty-two individual transactions in the past seven days.

In the last 7 days, there have been a total of 282,730,986 $SHIB tokens burned and 22 transactions. #shib

— Shibburn (@shibburn) June 11, 2023

This figure showcases a notable decrease of -93.66% in burn rate compared to the past week, where a record-breaking 4,175,261,803 (4.17 billion) SHIB were permanently moved out of circulation via twenty-seven separate transactions.

Weekly Top SHIB Burners

Binance-linked wallet and MARSWAP emerged as the “Top SHIB Burners of the Week.”

Binance-linked Wallet

One of the wallets associated with Binance contributed the major part towards the burn. The wallet tagged Binance 14 has ignited a staggering 207,715,716 (207.71 million) SHIB in a single transaction executed on June 10^th, 2023.

MARSWAP (MSWAP)

MARSWAP, a token that has recently gained attention, secured the second spot on the list of “Top SHIB Burners” of the week. The emerging token transferred 47,215,278 (47.21 million) SHIB to the dead wallet through nine separate transactions.

The burn activity of MARSWAP peaked on Sunday, June 11^th, when the project performed two major burn transactions. MARSWAP sent 16,308,588 (16.30 million) SHIB tokens to the Inferno address in the first transaction. A few hours later, the project followed up with another significant burn, eliminating 11,378,240 (11.37 million) SHIB tokens.

Despite these impressive burn numbers, the value of Shiba Inu has experienced a depreciation of -22.6% over the past week. According to CoinGecko data, SHIB is currently trading for $0.00000660.