The ever active Shiba Inu community has achieved a significant milestone. The Burn Portal launched four weeks ago has taken out over 50 Billion SHIBS, equivalent to $579,500 from circulation, via thousands of separate transactions in the past month.
SHIB Burn Rate Rises Due to Shiba Burn Rewards
On 17th May, the first set of Shiba Burn rewards was distributed to SHIB burners, thereby boosting the community’s confidence in the burn project.
In addition, the SHIB burn rate grew exponentially in the last 72 hours as a total of 18,348,470,507 (18.34B) Shiba Inu tokens have been taken out of circulation through 286 separate transactions.
SHIB Breaks More Records Through SHIB Burn Portal
On May 19th (Thursday), one mysterious wallet set a new record by burning a whopping 10 billion SHIB, worth $124,300 in a single transaction.
This achievement marks the most extensive community-led burn in history, the biggest one in a single transaction, and the biggest one since the Burn Portal launch. This massive burn also helped SHIB Burn Portal to achieve its first-ever major milestone of burning 50 billion tokens in no more than 30 days.
The stats mentioned above clearly shows that the Shiba Inu team have introduced a game-changing move for SHIB in the form of the SHIB Burn Portal.