The Shiba Inu team consistently follows through on its commitment by executing more substantial SHIB burns utilizing a portion of Shibarium gas fees.
In the most recent sequence of burns powered by Shibarium, the Shiba Inu team incinerated 8,471,583,707 (8.47 billion) SHIB tokens valued at $90,307.
This 8.47 billion eliminated SHIB is the fourth in the series of tokens burnt from Shibarium gas fees. The well-known Shiba Inu content marketer Lucie posted details of the transaction in a recent communication on X.
“4th SHIB Burn Alert! Enjoy these Shibarium flames,” Lucie remarked.
? 4th $SHIB Burn Alert! ?
Enjoy these #Shibarium flames. pic.twitter.com/jlYSlhl9hG
— ????? | ✨Shib.io✨ (@LucieSHIB) December 22, 2023
The prominent Shiba Inu burn tracker Shibburn also confirmed the transaction in a recent tweet, noting the 8.47 billion tokens were sent to a dead, non-recoverable address. Also, data from Etherscan indicated the burn occurred on December 22 at 10:51:35 PM +UTC.
Notably, this fourth burn comes within 24 hours after the Shiba Inu team initiated the third burn, which The Crypto Basic disclosed. In particular, the Shiba Inu team wiped out 8.53 billion SHIB tokens on December 22 at 12:30:59 AM +UTC. The burnt tokens were valued at $90,711 at the time of reporting.
Cumulatively, the Shiba Inu team has incinerated 17,005,148,400 SHIB tokens in under 24 hours. Consequently, Shiba Inu’s intra-day burn rate hit a high of 67,324%, as Shibburn captured in a recent tweet early today.
HOURLY SHIB UPDATE$SHIB Price: $0.00001091 (1hr 0.40% ▲ | 24hr 4.46% ▲ )
Market Cap: $6,438,593,366 (4.81% ▲)
Total Supply: 589,302,399,249,938TOKENS BURNT
Past 24Hrs: 17,044,029,712 (67324.8% ▲)
Past 7 Days: 25,703,276,224 (14058.83% ▲)— Shibburn (@shibburn) December 23, 2023
Overall, in the past seven days, 25,724,850,362 (25.72 billion) Shiba Inu tokens have left circulation.
Shibarium-based Burns Crosses 33.8B Shiba Inu in 18 Days
The Shiba Inu team initiated the eagerly awaited Shibarium-powered burn on December 4. It sent an impressive 8.24 billion SHIB with over $75k, at the time, to a dead wallet.
In a parallel development, on December 16, the team executed another burn. It burnt 8.61 billion SHIB as part of the ongoing Shibarium-powered burns.
In the latest update on December 22, the Shiba Inu team has now directed an additional 17 billion SHIB tokens to the non-recoverable wallet. As a result, within just 18 days, the team has successfully burned over 33.8 billion SHIB on Shibarium.