The rate at which the Shiba Inu (SHIB) tokens are being burned has drastically increased since the launch of the SHIB Burn portal in late April 2022.
SHIB tokens are now burned in billions by the Shiba Inu community members on a daily basis as many look forward to seeing the new burn portal destroy trillions of tokens every year.
Read Also: Google Trend Study Says Shiba Inu (SHIB) is the Most Popular Crypto in the United Kingdom (UK)
26.1 Billion SHIB Burned In April
According to the SHIB tokens burn tracker Shibburn, a total of 26.1 billion Shiba Inu tokens were sent to the inferno wallets in April, where they will remain permanently inaccessible.
Shibburn tweeted, “26,109,968,050 SHIB tokens have been burned in the month of April with 1,974 transactions.”
🔥🔥🔥🔥 26,109,968,050 $SHIB tokens have been burned in the month of April with 1,974 transactions. #shibarmy
— Shibburn (@shibburn) May 1, 2022
According to some Shiba Inu community members, 26 billion in a month may look small, but this is just the beginning of the SHIB burn initiative. They believe that the burn rate per month will increase in the subsequent months.
It’s worth noting that about 21 billion SHIB that was destroyed in April came in days after the official launch of the much-anticipated SHIB Burn Portal. This indicates that the initiative is already bringing the expected outcome.
1.07 Billion SHIB Burned in 24 Hours
Shibburn also reported that the burn has already started in the month of May as the Shiba Inu community managed to destroy 1.07 billion SHIB within the last 24 hours.
Shibburn reported, “In the past 24 hours, there have been a total of 1,073,269,606 SHIB tokens burned and 82 transactions.”
In the past 24 hours, there have been a total of 1,073,269,606 $SHIB tokens burned and 82 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) May 1, 2022
Read Also: On-Chain Data: Ethereum Whales Are Pouncing On Shiba Inu (SHIB) Amid Crypto Market Downturn
Welly Plans To Burn SHIB Tokens
It’s also good news that Welly, the first-ever SHIB-themed fast food restaurant, has come up with the future burn plans of Shiba Inu (SHIB).
The Italy-based fast food Company officially disclosed that they aim to contribute towards SHIB burns in different ways in the near future. For instance, the firm promises to allocate 2% of the total net profit collected from all the stores for burning SHIB.
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