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SHIB Weekly Burn Gains Momentum: Over 1.3 Billion Shiba Inu (SHIB) Destroyed in a Week

In the past 24 hours and last 8 days, the Shiba Inu (SHIB) community has burned about 132.9 million and 1.3 billion SHIB tokens respectively. Similarly, over 190 BONE tokens have been destroyed during this period.

Shiba Inu (SHIB) Token Burn Movement

It might interest you to know that in the past 24 hours,  a whopping 132,886,347 SHIB tokens have been burned via 17 transactions, in the popular memecoin ecosystem.

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According to Shibburn, a platform that tracks burning in the Shiba Inu ecosystem, “in the last 7 days, there have been a total of 1,312,416,725 SHIB tokens burned and 121 transactions.” With these figures, Shiba Inu (SHIB) reclaimed the burning of 1 billion SHIB tokens in a week.

In a similar manner, the 1CENT ecosystem recently destroyed 190 Bone ShibaSwap, the governance token of the Shiba Inu ecosystem, in one transaction.

Also, the project which is dedicated to taking some Shiba Inu tokens out of supply burned a total of 39,607,555 worth about $9.60 million, in its latest weekly burn edition.

Likewise, the SHIB Super Store Twitter handle reported that the project incinerated approximately 51 million SHIB tokens on July 1st.

To note, 1CENT and Travis Johnson’s SHIB burn games are both on the list of the top SHIB burners project.

Read Also: Did You Know that Shiba Inu Burned Coins Value Have Exceeded the Market Cap of MATIC?

Expectations

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The Shiba Army seems to be very relentless and committed to the SHIB token burn movement. This is evidenced in the consistent large-volume burn transactions recorded daily. 

In turn, the overall aim of reducing the circulating supply of the token is being achieved. Shibburn data reveals that the total burnt tokens from the memecoin’s initial supply amount to 410,371,727,918,931 tokens, at press time. More so, it is believed that a reduction in token supply could cause the asset to experience an increase in price.


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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in 2019. He is an all-rounded crypto content writer. He mostly covers industry news, developments, and other educational resources. He believes that proper crypto awareness is instrumental to achieving mass adoption.
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