Shiba Inu has seen its Burn Rate soar by 23,420% as Blaze Token burns 3B+ SHIB tokens simultaneously
In an impressive feat, Blaze Token, a new initiative within the Shiba Inu (SHIB) community, has executed a massive burn transaction, torching over 3 billion Shiba Inu tokens in a single move. This remarkable burn has propelled the project’s 24-hour burn rate to an astounding 23,420%. With this latest accomplishment, Blaze Token has successfully burned a total of 6.7 billion SHIB tokens within a mere two-week period since joining the burn campaign.
According to Shibburn, a community-driven tracker for Shiba Inu burns, the record-breaking transaction took place today at 15:56 (UTC). The transaction involved an impressive 3,016,073,367 (3.016 billion) SHIB tokens, making it the current year’s largest single burn of Shiba Inu tokens. This remarkable milestone highlights the commitment of the Shiba Inu community toward reducing the token’s supply and increasing its scarcity.
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Blaze Token Continues Impressive Shiba Inu Burn Streak with Largest Transaction Yet
In a remarkable display of commitment, the Blaze Token team has carried out their third Shiba Inu burn exercise, further contributing to their mission of reducing the token’s supply. Notably, this latest transaction stands as their largest burn to date.
The Blaze Token project, known for its dedication to burning SHIB, initiated their first significant burn on May 2, incinerating over 2 billion SHIB tokens in a single transaction. This was followed by a second burn five days later, involving 1.69 billion Shiba Inu tokens. These initial contributions set the stage for the project’s ongoing commitment to weekly burn transactions.
The recent burn exercise carried out by Blaze Token resulted in the destruction of a staggering 3.016 billion SHIB tokens, marking the largest burn transaction within the Shiba Inu ecosystem this year. This significant burn adds to the cumulative SHIB burn tally, which now amounts to an impressive 6.7 billion tokens over the span of just two weeks.
To fund their burn initiative, Blaze Token collects a 10% fee for buy transactions and a 12% fee for sell transactions. These fees are then utilized to burn both SHIB and BLZE tokens, with a notable 40.9% allocated specifically to Shiba Inu burns. Through these strategic mechanisms, the project aims to continue their mission of burning trillions of SHIB, ensuring a reduction in supply and fostering a sense of scarcity within the community.
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At press time, Shiba Inu is trading at $0.00000882 with a 24-hour trading average of 580.201B.