Burn Rate Up as 5.67B Shiba Inu (SHIB) Burnt in 7 Days

Burn Rate Up as 5.67B Shiba Inu (SHIB) Burnt in 7 Days

The Shiba Inu community has regularly reduced the number of SHIB tokens in circulation by transferring them to inactive wallets. The Shiba Inu Community has accomplished a fantastic feat by removing a massive 5,677,307,518 (5.67B) SHIB over the course of the last seven days through several transactions. 

Three well-known burners, Blaze Token, Mysterious Wallet, and CultPunks, have spearheaded this group effort, and each made a significant contribution to the progress.

Related Reading: Sketchy Shiba Inu Burn: Strange Wallet Burns 2M SHIB Tokens

SHIB Burn Rate

The recently released token Blaze Token instantly gained attention by burning 3,700,789,543 (3.70B) SHIB in two separate transactions. A massive 2,005,265,274 (2B) SHIB, valued at $19,992, was permanently removed from circulation via Blaze Token’s first burn transaction on May 3. The project continued on May 8th with an even more significant burn of 1,695,524,269 (1.69B), solidifying its status as the top SHIB burner thus far in May.

The unidentified wallet took second place, burning 1,695,572,371 (1.69 billion) SHIB in a single transaction on May 5th, setting a new record. The owner of the wallet is still unknown.

A single transaction carried out on May 3rd by CultPunks, a recently launched NFT collection on Modulus Network, permanently removed 246,743,138 (246.74M) SHIB from circulation. Due to this accomplishment, CultPunks won third place among the top SHIB burners of the week.

Shibburn.com data shows that in the last 24 hours, the Community has eliminated 1,699,432,700 (1.69B) SHIB. The SHIB burn rate has increased by 13150.01% during the past day due to this enormous burn.

Read Also: Shiba Inu Community Questions Shytoshi’s Actions; Calls For Transparency

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