Over 2.09 billion Shiba Inu (SHIB) burned in July 2023.
Shiba Inu’s monthly burn rate jumped nearly 27 percent as the Community incinerated 2.09 billion SHIB in the past thirty days.
Shiba Inu Community has set fire to 2,094,566,264 (2.09 billion) SHIB through four hundred and twelve (412) separate transactions in the past month.
??? 2,094,566,264 $SHIB tokens have been burned in the month of July with 412 transactions. #shib pic.twitter.com/9qK8JweQgY
— Shibburn (@shibburn) August 1, 2023
This represents a 26.6482% increase in burn rate compared to the previous month, where 1,653,845,435 (1.65 billion) SHIB were permanently removed from circulation via 164 individual transactions.
Akai Token (AKAI)
Akai Token (AKAI), the newly launched project, emerged as the top SHIB burner of the month. On July 10, the project eliminated 803,965,517 (803.96 million) SHIB from circulation through one hundred and two (102) distinct transactions in an epic-burn spree conducted.
Mysterious Wallet
The second largest burn of the month comes from the mysterious wallet, which sent 102,600,886 (102.60 million) SHIB to the dead wallet in a single transaction executed on July 21.
Dormant Wallet
In addition, the dormant wallet that remained inactive for almost two years also contributed to reducing the SHIB supply by transferring the entire SHIB holdings, equaling 77,524,940 (77.52 million) tokens, to the “inferno” address in one robust transaction on July 19.
Weekly Burn
Apart from monthly burns, Shiba Inu Community has permanently removed 268,198,181 (268.19 million) SHIB from circulation through one hundred and seven (107) individual transactions in the past week alone.
The intense burn activity has caused the Shiba Inu price to appreciate by 9.6% in the past month. The price increase propelled SHIB to become the 14th biggest cryptocurrency globally by market capitalization.
As of press time, Shiba Inu is trading at $0.00000829, down -1% over the last day, with a 24-hour trading volume of $177,274,955 ($177.27 million).
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
