Shiba Inu Community Removed 94.58 Million SHIB from Circulation in 24 Hours, Newly-Launched Project Cryptiq Token Leads the Charge.
Shiba Inu Community has permanently removed 94,588,560 (94.58 million) SHIB from circulation in the past 24 hours. The feat is achieved through thirty-eight individual transactions.
In the past 24 hours, there have been a total of 94,588,560 $SHIB tokens burned and 38 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) July 29, 2023
Cryptiq Token, a newly surfaced project, emerged as the standout participant in this burning frenzy. The community-driven project eliminated 78,146,592 (78.14 million) SHIB tokens through thirty-one separate transactions.
The biggest burn transaction from Cryptiq Token was destroying 37,691,762 (37.69 million) SHIB tokens in one fell swoop. Per Etherscan.io data, the transaction was carried out precisely at 10:34:35 PM +UTC.
Cryptiq Token, a blockchain company with decentralized ownership, officially acknowledged these burns via tweet.
The tweet reads: “We are now burning SHIB tokens alongside many other great projects doing their bit to get us to that 1$ SHIB. A token gesture to show our love, but we also come with innovative products and ideas.”
We are now burning @Shibtoken on @shibburn alongside many other great projects doing their bit to get us to that 1$ SHIB.
A Token gesture to show our love, but we also come with innovative products and ideas@thecryptobasic we'd love to show you guys our tech sometime 🙂 pic.twitter.com/kNHCO8JRqF
— ? Cryptiq WEB3 (@_Cryptiq) July 29, 2023
This intense burn activity has caused the overall SHIB burn rate to surge by 240.91% over the last day.
As reported earlier by The Crypto Basic, Shiba Inu displayed exceptional performance on Friday, surging more than 7% over the last day. This outstanding growth propelled Shiba Inu to outperform 4,489 top coins in social and market activity, securing the top spot on the LunarCrush AltRank list.
Furthermore, Shiba Inu’s meteoric rise has led it to claim the title of the world’s 14th biggest cryptocurrency by market capitalization.
Users must remember that this article is for info purposes only, and The Crypto Basic has nothing to do with Cryptiq Token. Users must be very cautious with new projects as these new projects may use the Shiba Inu army for attention and marketing purposes.
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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