5 Billion SHIB Destroyed In 24 Hours, 15.8 Billion SHIB Burned Since Releasing Burn Portal

Shiba Inu Lead Dev Speaks On Burning 99.9% of SHIB Circulating Supply

Since the official launch of the much-awaited SHIB Burn Portal on the 23rd of April, the crypto project, Shiba Inu, has been receiving the much-needed attention and the amount of SHIB burned daily has drastically increased.

It’s worth noting that over 15 billion SHIB tokens have been sent to dead wallets via the newly launched burn portal. This implies that the whopping amount of SHIB tokens involved will remain permanently inaccessible for Shiba Inu holders.

About 5 Billion SHIB Burned in 24 Hours

On the 25th of April, Times Tabloid reported that 10.9 billion SHIB tokens were destroyed through the newly launched burn portal within two days. Currently, the number is standing at 15.8 billion on the burn portal. This implies that the mechanism has managed to burn about 5 billion Shiba Inu tokens in the last 24 hours.

Unknown Wallet Destroyed 1.3 Billion SHIB

The Shiba Inu community was left to wonder a couple of hours ago after someone destroyed a whopping 1,325,571,332 SHIB worth about $32,000.

According to the data shared by Etherscan.io, the anonymous wallet sent the whopping SHIB tokens to dead wallets on two separate occasions in less than two days.

The first transition, which was seemingly meant for testing, was initiated on April 24, 2022, and carried just 5 million SHIB worth $119. The second transaction was performed after the success of the test transaction.

After the two transactions, the balance of the anonymous whale turned to zero, indicating that the wallet is likely dedicated by the owner to burn SHIB tokens or the owner has decided to sacrifice all of his/her holdings for the growth and development of the Shiba Inu community.

Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.