The Shiba Inu burn initiative is still very active, with millions of SHIB tokens burned in every passing day.
According to Shibburn on Twitter, over 436 million SHIB tokens have been sent to the dead wallet in the last seven days. This implies that the tokens are no longer accessible for usual transactions.
Also, in the last 24 hours, 19.6 million SHIB tokens have been burned, while the Shiba Inu community members collectively destroyed 1.8 million SHIB in the last hour.
Read Also: ShibaBurn, New Token That Is Capable Of Burning over 1.4 Trillion SHIB Tokens Monthly. Details
A few hours ago on Twitter, Shibburn reported that a total of 436,364,849 SHIB tokens were collectively destroyed by the Shiba Inu community members within the last seven days.
According to the report, it took 80 different transactions to send these tokens to the dead wallet.
Shibburn tweeted, “In the last 7 days, there have been a total of 436,364,849 SHIB tokens burned and 80 transactions.”
The amount of Shiba Inu tokens burned over the week implies that the burning rate compared to the previous week increased by over 280%. This is a sign that the community still believes that the burn initiative will enhance the price of the cryptocurrency in the long run.
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According to Shibburn, Shiba Army has also burned a total of 19,464,019 SHIB tokens in the last 24 hours, with 11 transactions.
“In the past 24 hours, there have been a total of 19,464,019 SHIB tokens burned and 11 transactions.”
As also reported by Shibburn, in the last hour, over 1.8 Million SHIB tokens were destroyed in a single transaction. At the time of filing this report, Shiba Inu (SHIB) is trading at $0.00002301, with about a 3% price downtrend in the last 24 hours.
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