The community burns 580 million Shiba Inu in 24 hours and 22 billion in a week, according to a report

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580.63 million Shiba Inu (SHIB) were burned in the last 24 hours, and 22.20 billion in the previous week.

Travis Johnson’s SHIB Burn Games and 1Cent token are among the top SHIB Burn contributors of the week. One Mysterious wallet sent 10 billion SHIB to a dead wallet in one significant transaction. The SHIB Burn Portal has reached a significant milestone, with over 50 billion SHIB tokens destroyed since its inception.

Shiba Inu’s (SHIB) burn rate increased dramatically this week as the Community celebrated the distribution of the first ShibaBurn rewards on May 17th (Tuesday).

According to Shibaburn.com, the SHIB Army has sent 22,200,398,699 (22.20B) SHIB tokens to the dead wallet in 497 separate transactions over the last seven days.

The mysterious wallet is this week’s top SHIB burner

Following the distribution of ShibaBurn rewards, one mysterious wallet becomes active and leaves a trail by sending 10 billion SHIB, worth $124,300, to the dead wallet in a single significant transaction. This is not only the largest community-led burn in history but also the largest in a single transaction and the largest since the Burn Portal’s inception.

On April 24, 2022, the mysterious wallet burned 1,325,571,332 (1.32B) SHIB, worth $32,346 in two separate transactions (the next day of the SHIB Burn Portal Launch).

Since then, the wallet has sent 11,325,571,332 (11.32B) SHIB, worth $156,646, to the dead wallet in three separate transactions.

Read also: “Next Week, Things Will Get Interesting.”: Shiba Inu Lead Developer Says

1 CENT weekly BURN EVENT

“1Cent,” a SHIB-inspired token, is the week’s second-largest SHIB Burner. On Monday, the token’s team held its Weekly Burn Event. In one significant transaction, the 1Cent token sent 100,135,030 (100.13M) SHIB, worth only $1204, to the dead wallet via this event.

The transaction link was updated on the token’s official website as “Proof of Burn” shortly after the tweet. According to the website, the project has sent 2,086,756,995 (2.08B) SHIB to a dead wallet since March 14th, 2022.

Burning in the past 24 hours

Shiba Inu Community has permanently removed 580,638,304 (580.63M) SHIB tokens from circulation through 51 separate transactions in the last 24 hours using the SHIB Burn Portal, according to Shibburn.com.

Travis Johnson’s SHIB Burn Games made the single largest burn transaction, involving over 54 million Shiba Inu tokens, and is regarded as one of the day’s top SHIB Burners.

Weekly BURN EVENT: Travis Johnson’s SHIB Burn Games

Travis Johnson’s SHIB Burn Games hosted its first-ever Weekly Burn Event on Sunday. Following the Burn Event, the company announces that they have burned 54,917,856 SHIB worth $649.13 in a single transaction.

The company also tweeted a few screenshots and a transaction link to the community as “Proof of Burn.”

The company has supported Shiba Inu Burns since November 2021. Every month on the 15th, the company holds its “Monthly Burn Party.” However, following the announcement of the first ShibaBurn rewards, the company decided to change its burning schedule, which means that SHIB Burn Games will now burn SHIB every week instead of once a month.

Since November 2021, the company has burned 1,981,210,929 (1.98B) SHIB tokens.

Related article: Shiba Inu Reaches a Milestone as Burn Portal Disposes of 50 Million SHIBS in Less Than a Month

The company has created three games, including the well-known Brick Buster. Candy Trips and Zombie Assassins are the other two games. All of these games are available for download from the Google App Store. According to the company’s official website, SHIB Burn receives 100% of its ad revenue from games. Aside from the Games, the company has one official YouTube Channel called “ShibPlay” and various apps like ShibSphere that can be downloaded from the Google App Store, all of which are dedicated to SHIB Burn.

The SHIB Burn Portal has reached a significant milestone: 50 billion. Burned SHIB

On Sunday, the SHIB Burn Portal reaches a significant milestone by burning 50 billion SHIB tokens worth $579,500. (as of current price). This demonstrates the Burn Portal’s massive success, as this milestone was reached in less than a month.