Last updated on May 18th, 2024 at 11:59 am
Shiba Inu Burn – In the past week, reports show that the Shiba Inu community burned over 1.7 Billion tokens. However, compared to the previous week, the SHIB burn rate dropped by -69%.
According to Shibburn – a dedicated Shiba Inu burn project, the community destroyed about 1,748,403,277 SHIB tokens. The burn was done through 20 separate transactions in the past week.
In the last 7 days, there have been a total of 1,748,403,277 $SHIB tokens burned and 20 transactions. #shib
— Shibburn (@shibburn) May 14, 2023
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Shiba Inu’s burn rate has significantly decreased recently, by -69.48%, compared to the previous week, when a total of 3,981,194,931 (3.98B) SHIB were destroyed through nineteen different transactions.
Top 3 SHIB Burners of the Week
Over the past week, Blaze Token, SHIB Super Store, and an unknown wallet were the top Shiba Inu burners. The newly launched Blaze token burned the most SHIB, permanently removing a huge 1,695,524,269 (1.69B) SHIB from circulation. This was done in a single transaction which happened on May 8. Blaze token is a new project that aims to burn trillions of Shiba Inu coins weekly.
Similarly, the popular Shiba Inu Community-led burn initiative, SHIB Super Store burned over 10,455,764 (10.45M) SHIB in 24 hours. Finally, an unknown wallet also burned over 11,429,686 (11.42M) SHIB in a single transaction. The transaction was done about 24 hours ago from the time of writing.
However, the mystery wallet still contains a massive 335,797,689,093 (335.79B) SHIB tokens, valued at $2,961,735 ($2.96M), despite this significant burn.
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Shiba Inu’s price struggles to rebound despite the burning activity seen over the previous week; it has dropped -6.6% over the past seven days.
Shiba Inu burn rate in last 24 hours
According to the Shibburn website, Shiba Inu’s burn rate is down -11.21% in the last 24 hours. Over 11.4M SHIB was burned in two separate transactions in the last 24 hours. The total Shiba Inu burned from the initial supply stands at 410,638,993,497,605.
Shiba Inu (SHIB) price today
According to live data from CoinMarketCap, Shiba Inu (SHIB) is selling at $0.000008903 and is up over 1.1% in the last 24 hours. The meme coin is ranked at #15 on the CoinMarketCap chart with a live market cap of $5,248,475,471 USD.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.