Following the launch of Shibarium Public Beta, there has been a considerable surge in the rate of Shiba Inu burns. Through seventy-nine transactions, the community has collectively burned a massive 3,805,250,524 (3.80 billion) tokens.
The story of Shiba Inu token burns began during the deployment of Shibarium beta on the backend. On March 10th, the individual responsible for deploying the Shiba Inu contract moved an unprecedented 2,204,313,475 (2.20 billion) tokens to the dead wallet in fifty-eight separate transactions. After the official launch announcement on March 11th, the community proceeded to burn an additional 489,895,235 (489.89 million) SHIB in eight separate transactions. On March 12th, March 13th, and March 14th, 23.51 million, 602.60 million, and 31.97 million SHIB were burned, respectively.
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According to information from Etherscan.io, KoyoToken has been playing a significant role in increasing the burn rate of Shiba Inu. KoyoToken was launched roughly a week ago and has already burned an enormous 3,707,028,387 (3.70 billion) SHIB through multiple transactions, effectively removing the tokens permanently from circulation.
Past 24 Hours Burn
Just recently, KoyoToken was responsible for yet another significant burn event, as it moved a sizable 451,061,150 (451.06 million) SHIB to the dead wallet in a single transaction. This burn happened approximately 12 hours ago, at the time of writing, and represents another substantial reduction in the number of Shiba Inu tokens in circulation.
Over the past 24 hours, the Shiba Inu community has burned 452.95 million SHIB tokens through three different transactions.
The burn rate of Shiba Inu has increased by 1318.33% in the past day due to the significant burning activity that has taken place.
