Shiba Inu Community Burns Record 5.71 Billion SHIB Tokens in August.

Shiba Inu witnessed a substantial increase in burn rate in August as the Community destroyed 5.71 billion SHIB.

Shibburn.com, the official Shiba Inu burn tracker, recently revealed that the Shiba Inu enthusiasts have burned a record 5,715,986,938 (5.71 billion) SHIB tokens in the past thirty days. The remarkable feat was achieved through seven hundred and sixty-three (763) individual transactions in the past thirty days.

This figure represents a 173% increase in burn rate compared to the past month.

??? 5,715,986,938 $SHIB tokens have been burned in the month of August with 763 transactions. #SHIB pic.twitter.com/1SYyUzbBCu

— Shibburn (@shibburn) September 1, 2023

Biggest Burn Event of the Month

On August 21, the Community conducted the largest burn event of the month by setting fire to a massive 1,013,502,366 (1.01 billion) SHIB. This was done through twenty-four separate transactions, with the two mysterious wallets and MARSWAP (MSWAP) being among the top contributors to this burn.

On August 21, MARSWAP (MSWAP), the native token of MARSWAP DEX, put a match to 179,281,557 (179.28 million) SHIB through seven distinct transactions, and the two mysterious wallets collectively transferred a whopping 750,227,189 (750.22 million) SHIB to the dead wallet via two separate transactions.

The rise in monthly burns can be attributed to the Shibarium public launch. The SHIB team has previously stated that every Shibarium transaction will burn SHIB. Shibarium now has 634,617 wallet addresses and about 700,000 transactions, with over 20M bone staked on it.

Shiba Inu Price and Volume

There has been a negative market trend for the SHIB token during the last 24 hours. The current SHIB price is $0.00000797, a dip of 2.52% from its all-time high. Despite this decline, some improvement is still possible.

SHIB’s trade volume has increased by 15.24% to $125.88 million. A rise in trading volume may indicate that token holders are becoming more positive on the market, providing some relief from the token’s recent price drop.

Shib and Robinhood

As reported earlier by The Crypto Basic, Robinhood is now the fifth-largest holder of Shiba Inu coins. There are 34 trillion SHIB tokens in the trading platform’s possession. With such a substantial investment, Robinhood is now one of the most influential players in the Shiba Inu community.