Shiba Inu’s Burn Rate Soars as Akai Token Incinerates 804 Million SHIB.
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.
— Akai | Burn $SHIB (@AkaiShibarium) July 10, 2023
Shibburn.com, a popular data-tracking platform, has revealed the details of this remarkable event over the past 24 hours.
Akai Token initiated its burn spree precisely at 02:03:23 AM +UTC on July 10th. The project kickstarted this spree by sending a modest 313,739 SHIB to the dead wallet in a single transaction. However, this was just the beginning, as Akai Token conducted multiple transactions to remove millions of SHIB tokens from circulation. As of the latest update, Akai Token has successfully burned 803,965,517 (803.96 million) SHIB through 102 separate transactions.
HOURLY SHIB UPDATE$SHIB Price: $0.00000756 (1hr 0.77% ▲ | 24hr -0.32% ▼ )
Market Cap: $4,445,652,655 (-1.07% ▼)
Total Supply: 589,348,684,321,772
Past hour: 3,944,971 (1 transaction)
Past 24Hrs: 803,965,517 (8991.55% ▲)
Past 7 Days: 976,208,476 (-15.48% ▼)
— Shibburn (@shibburn) July 11, 2023
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.
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.