Shiba Inu witnessed an extraordinary burn events in May 2023 as the SHIB Army burned over 15 billion SHIB tokens. Leading the pack as the top SHIB burner of the month was Blaze Token, with significant contributions from MARSWAP (MSWAP) and Coinbase 10.

In a remarkable achievement, the Shiba Inu community permanently removed a total of 15,369,335,177 (15.36B) SHIB from circulation during May 2023. This feat was accomplished through 191 separate transactions, reflecting the collective efforts of the community to burn SHIB tokens.

This significant milestone represents a remarkable surge in the burn rate, marking a notable increase of 370% compared to the previous month. In the preceding month, a total of 3,269,676,832 (3.26B) SHIB were destroyed through 125 individual transactions.

Read Also: SHIB Army Burned Over 15 Billion Shiba Inu Tokens in May

Intense Burn Activity Surpasses 11.5 Billion Shiba Inu Tokens

Blaze Token, a community-driven project launched on May 1st, has emerged as the leading SHIB burner of the month, permanently eliminating a staggering 11,557,310,052 (11.5B) SHIB through five distinct transactions. On May 29th, Blaze Token executed the largest burn transaction, sending 3,601,495,249 (3.60B) SHIB to the dead wallet. 

Notably, MARSWAP, a newly launched token on ShibaSwap DEX, secured second place, burning 1,350,604,128 (1.35B) SHIB through one hundred separate transactions on May 24th. Additionally, a Coinbase-associated wallet, known as Coinbase 10, contributed by destroying 200,583,666 (200.58M) SHIB in a single transaction on May 28th.

Despite the intense burn activity, the Shiba Inu price has struggled to gain positive momentum. Over the past 30 days, Shiba Inu has experienced a loss of 13.7% in value. Currently, Shiba Inu is trading at $0.00000853, down 0.10% in the last 24 hours, with a 24-hour trading volume of $127,335,523 ($127.33M).

Read Also: What Could be Behind the 370% Increase in Shiba Inu’s Burning in May?