Shiba Inu Burn Rate Up 800% as Community Burns 1,000,000,000 SHIB in 24 Hours

Shiba Inu’s burn rate skyrockets over 800 percent as the Community set fire to 1,000,000,000 (1) billion SHIB in the past 24 hours.

The Community-led burn initiatives have eliminated 1,013,502,366 (1.01 billion) SHIB from circulation forever through twenty-four separate transactions in the past 24 hours.

In the past 24 hours, there have been a total of 1,013,502,366 $SHIB tokens burned and 24 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/Pf99afgTlu

— Shibburn (@shibburn) August 22, 2023

This figure showcases a notable 853.43% increase compared to the previous day, where the Community burned 106,300,211 (106.30 million) SHIB via twenty-three individual transactions.

0xShibarium AI, Koyo Token (KOY), and MARSWAP (MSWAP) emerge as the top SHIB burners of the day.

0xShibarium AI

0xShibarium AI, a newly-launched token, transferred 418,719,732 (418.71 million) Shiba Inu tokens to the dead wallet in one transaction, marking the most substantial SHIB burn of the day. Per Etherscan.io data, the gigantic burn occurred precisely at 06:36:59 PM +UTC on August 21.

We have just bought on the market and burned over 400,000,000 $SHIB tokens!

Sending a clear message of harnessing the power of decentralization for a brighter future.

Up next, #Shibarium ? #0xShibarium. WOOF ?, watch #0xS closely ?

— 0xShibarium AI (@zeroxsai) August 21, 2023

Koyo Token

Shortly after, Koyo Token, a community-driven token, put a match to 331,507,457 (331.50 million) SHIB in a single transaction.

「草木も眠る丑三つ時」
"In the dead of night, even the trees and grasses are asleep."

In the silent hours, when the world rests, we, the guardians of Kōyō, have taken a monumental stride. KoyArmy, let the word resound: We have just burnt a staggering 331M SHIB Tokens, a… pic.twitter.com/ZdEDnjY5t7

— KoyoToken (@KoyoToken) August 21, 2023

Koyo Token reignited its burn frenzy after about two months of pause. On June 21, the project eliminated 252,873,213 (252.87 million) SHIB from circulation in one significant transaction.

As of press time, Koyo Token has burned 9,493,893,373 (9.49 billion) SHIB.

MARSWAP (MSWAP)

MARSWAP, a native token of MARSWAP DEX, also contributed significantly to the SHIB burn over the last day. The project sent 179,281,557 (179.28 million) SHIB to the Inferno address via seven distinct transactions.

MARSWAP is showing unwavering commitment to burning SHIB since its inception in May. The project has burned over 4.5 billion SHIB in the past three months.

? 4.5 BILLION #SHIB BURNED! ?#MARSWAP has burned 4.5 billion #Shiba since may!
2% of ever $MSWAP transaction buy and burns Shiba Inu, this is coded into the contract in a way that makes it sustainable allowing us to help hit that ONE CENT DREAM!

Marswap in the last 24h:… pic.twitter.com/2kLlmlYonI

— MARSWAP – Shibarium DEX & DeFi Platform (@MARSWAP1) August 20, 2023

The intense burn activity failed to lift Shiba inu prices. As of writing this report, Shiba Inu is trading at $0.000007972, down -4% over the last day, with a 24-hour trading volume of $180,647,437 ($180.64 million).