Shiba Inu Burns Rise to 1.49 Billion in the Past 7 Days

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Shiba Inu

According to Shibburn.com, 96 transactions were sent to dead wallets during the past seven days, and 1,496,133,933 (1.49B) SHIBS are no longer circulated due to the community-led burning initiatives.

Three new tokens, ETH SHIBA, 1Cent, and ScareCrow (SHIB Protector), ranked among the top SHIB burner of the week.

ETH SHIBA Burning Events

ETH SHIBA is a new token currently supporting SHIB burn and has successfully organised two burn events this week. The new token arranged a Weekly Burn Event on 29 March 2022, which saw off 400,603,675 (400.6M) SHIB to the dead wallets.

ETH SHIBA also organised another “ FLASH Burn Event” on 31 March 2022. As a result, the team successfully sent 15 BNB value of SHIB tokens (242.328M) out of circulation through a single transaction.

These transactions mean that ETH SHIBA single-handedly took out 642,932,052 (642.93M) SHIB from circulation forever. In addition, even since its launch three weeks ago, the project successfully burnt over 1.5 billion SHIB tokens.

1Cent Burning Event

Another new token supporting SHIB burn is 1Cent, and the team has arranged an official Weekly SHIB Burn Event on 28 March 2022. This event led to the burn of 290,590,004 (290.59M) SHIB to the dead wallet in one transaction. The three weeks old project also claims to burn over 1.00 billion SHIB tokens.

ScareCrow Auto-Burn Mechanism

The SHIB Protector is part of the new tokens that rank high in the burning exercise. Additionally, the token uses a unique auto-burn feature for SHIB.

The ScareCrow token offers a 3% Buy Tax, 8% Normal Sell Tax, and 25% Early Sell Tax on holders that sell Scarecrow tokens within 24 hours of buying. ScareCrow automatically uses the taxed amount to buy SHIB and burn whenever someone buys or sells tokens.

ScareCrow (SHIB Protector) token has burnt over 400 million SHIB during the past week through this burning mechanism.

Bigger Entertainment Stops SHIB Burning Campaigns

The owner of Bigger Entertainment, Steven Cooper, announced that he would no longer be a part of SHIB burning because he was not satisfied with the recent developments. For him, the main focus of SHIB developers should be to SHIB burn.

Bigger Entertainment began its burning activities last October 2021, and so far, the company has been able to burn over 1.5 billion SHIBS.