Shiba Inu Burns 243 Million Tokens In 24 Hours, 3.96 Billion In a Week, With 26B SHIB Destroyed Since Burn Portal Launch

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Shiba Inu

Activities continue in the recently launched Shiba Inu burn portal, as over 243.06 million SHIB has been sent to the dead wallet by the Shiba Inu community in the last 24 hours and 3.96 billion in the past week.

Shiba Inu (SHIB) 24 hours burn

According to data published by the Shibburn Twitter account, in the past 24 hours, the SHIB community has burned 243,069,460 (243.06M) SHIB tokens, removing them from circulation. That amount of crypto was sent through 54 separate transactions.

However, the burn rate has slightly declined by -37.21% over the last day when 311,860,295 (311.86M) SHIB tokens were burned through 46 different transactions.

Shiba Inu (SHIB) Weekly Burn

In the same vein, according to calculations, over 3.96 Billion tokens have been eliminated from circulation in the last seven days via 367 separate transactions.

Interestingly, ShibaDoge (SHIBDOGE), the meme-inspired token, is the top burner of the week after sending a whopping 1 billion Shiba Inu tokens to the dead wallets, worth over $20,000 in a single significant transaction on Thursday.

The SHIB Burn Portal

SHIB Burn Portal was released on April 23, 2022. Since then, the Portal has driven the burn rate up dramatically, as the community is taking part in it enthusiastically while burning millions of coins on an hourly basis. And in return, the community receives rewards in the form of Ryoshi Vision (RYOSHI), a new official partner token of the SHIB ecosystem.

Since it went live, SHIB Burn Portal has burned a whopping total of 26,357,419,583 (26.35B) SHIB tokens worth $458,619 via hundreds of separate transactions.

Shiba Inu (SHIB) price movement

Despite the recent continuous aggressive burn, the Shiba Inu (SHIB) price has remained under intense selling pressure. As a result, Shiba Inu registered its all-time high price (ATH) on October 28, 2021 (6 months ago). But the second most popular dog-themed cryptocurrency has lost its -80.26% of value.

At the time of writing, the Shiba Inu price is trading at $0.00001656, down -12.74% over the last day, with a 24-hour trading volume of $495,054,816.00 ($495.05M).