The Shiba Inu community is burning some massive amount of SHIB coins.
Shiba Inu army was able to burn 1.69B Shib in 24 hours and 3.9B tokens in a week.
24 Hour Burns
1.69 Billion Shiba Inu Burned in 24 Hours. Shiba Inu’s burn rate skyrockets 50,695% as a single wallet removes 1.69 billion SHIB.
Shibburn.com data recently revealed 1,695,572,371 (1.69B) SHIB burned in the past day. Interestingly, all these burns came from a mysterious wallet. No one has claimed responsibility for the burns, and the wallet remains unknown.
In the past 24 hours, there have been a total of 1,695,572,371 $SHIB tokens burned and 1 transaction. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.
— Shibburn (@shibburn) May 6, 2023
The impact of this recent activity cannot be understated, as the overall SHIB burn rate has skyrocketed by a staggering 50,695.69% in just one day.
This Week Burns
So far, 3,978,227,706 (3.97B) Shib have been destroyed this week. The largest burn of the week was 2.25B. These 2.25B SHIB tokens were burned in a single transaction on May 3rd.
The week was significant in SHIB burns as in April, only 3.26 Billion SHIB were burnt.
Following the burn, the total SHIB supply is reduced to 589,362,770,864,408 (589.36T). Out of the total supply, 574,170,068,499,555 (574.17T) SHIB are currently in circulation, whereas the long-term holders on ShibaSwap DEX are staking 15,192,702,364,852 (15.19T) SHIB.
As reported earlier by The Crypto Basic, SunCrypto, India’s premier cryptocurrency exchange, has announced a giveaway of 150 million SHIB tokens to 100 individuals.
In addition, Binance has added over 200 new digital assets, including Shiba Inu, to its Auto Invest program.
Moreover, Shiba Inu emerged as the most popular meme-based token in the United States of America (USA) and India, according to a recent study shared by CoinGecko.