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HomeCrypto NewsMarketBurn Rate Up 8991% As Akai Token Burns 804M Shiba Inu

Burn Rate Up 8991% As Akai Token Burns 804M Shiba Inu


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Shiba Inu’s Burn Rate Soars as Akai Token Incinerates 804 Million SHIB.

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Shiba Inu’s burn rate skyrockets as the newly-emerged project, Akai Token (AKAI), conducted an epic burn spree, eliminating 804 million SHIB from circulation.

Akai Token recently revealed that it has burned $9000 worth of Shiba Inu.

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Shibburn.com, a popular data-tracking platform, has revealed the details of this remarkable event over the past 24 hours.

Akai Token initiated its burn spree precisely at 02:03:23 AM +UTC on July 10th. The project kickstarted this spree by sending a modest 313,739 SHIB to the dead wallet in a single transaction. However, this was just the beginning, as Akai Token conducted multiple transactions to remove millions of SHIB tokens from circulation. As of the latest update, Akai Token has successfully burned 803,965,517 (803.96 million) SHIB through 102 separate transactions.

According to the official website of Akai Token, the project implements a 4% tax on every buy and sell transaction of its native token, AKAI. Half of this tax, equivalent to 2%, is utilized for burning SHIB tokens, while the remaining 2% is allocated for the project’s marketing activities.

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The intense burn activity has caused the overall burn rate to skyrocket by 8991.55% in the past 24 hours.

Shibburn.com data reveals that the Shiba Inu Community has set fire to 976,208,476 (976.20 million) SHIB in the past seven days.

The development doesn’t have an immediate impact on Shiba Inu’s price. As of press time, Shiba Inu is trading at the price of $0.0000076, up 0.43% over the last day, with a 24-hour trading volume of $91.21 million.

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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.



Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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