Shiba Inu Community has burned a total of 1.16 billion SHIB in the past week. This significant milestone was reached through 217 distinct transactions.
This signifies a substantial surge of 282% in the burn rate when contrasted with the preceding week, during which the Community eliminated 304.76 million SHIB via 154 separate transactions.
MARSWAP (MSWAP)
MARSWAP’s native token, MSWAP, has gained prominence as the leading SHIB burner this week. The community-led initiative focused on aggressively reducing SHIB’s supply, successfully eliminating 939.78 million SHIB through 101 separate transactions during the weekend.
By imposing a 2% transaction tax, MSWAP has integrated a mechanism to purchase and subsequently burn SHIB tokens. On August 13th, the initiative successfully achieved the significant accomplishment of eliminating more than 3 billion SHIB tokens through this process.
Related article: Shiba Inu: New Whale Emerges with Massive Token Acquisition, Sparking Speculation Before Shibarium Launch
Last 24 Hours Burn
According to Shibburn.com, the Community has eradicated 716.48 million SHIB tokens through 97 distinct transactions within the last 24 hours.
Despite the substantial reduction in burned SHIB tokens, the overall burn rate experienced a 16% decrease in the past day.
Meanwhile, there has been a resurgence of interest from Whales in Shiba Inu, particularly in anticipation of the upcoming Shibarium launch. A recently revealed Whale made a significant transaction, amassing 4.59 trillion SHIB tokens valued at $48.25 million.
Furthermore, Shytoshi Kusama, the Shiba Inu lead developer, has officially announced the imminent minting of the remaining BONE supply, leading to the eventual renunciation of the BONE contract. This news has left Shiba Inu enthusiasts eagerly anticipating the Shibarium Mainnet launch, though the specific launch date remains undisclosed by the team.
Related also: Shiba Inu Teases Exciting Updates with ‘SOON’ Tweet, Secures 11th Spot in Crypto Market
