Cryptocurrency

Shiba Inu Army Burns 3.27 Billion SHIB in April as Community Determines to Push SHIB to $0.01

SHIB sees a mild reduction in its total supply as the teeming community successfully burned billions of the canine-themed token in the month of April. Aside from burning, SHIB attained another remarkable feat as the largest crypto exchange, Binance heightened its rating for the token, moving it out of its innovation zone.

Per data extracted from the Shiba Inu burn tracking platform Shibburn, a total of 3,269,676,832 SHIB tokens were sent to the official SHIB dead wallet in April 2023 via 125 transactions. Accordingly, these tokens have been lost forever.

Compared to the amount of SHIB incinerated in March 2023, a huge reduction can be seen to the tune of 107.44%. Notably, the Shiba Inu community took a whopping 6,782,788,547 SHIB out of supply forever in a stunning 540 separate transactions. 

Koyo, an emerging decentralized finance project developed on the Ethereum blockchain contributed the most to this feat achieved by the Shiba Inu community. It bears noting that the independent SHIB burns contributor has burned a total of 8.76 billion SHIB through multiple transactions since its emergence. 

Among the notable burn transactions executed by Koyo in April 2023 include the sending of 1,104,224,812 SHIB to the dead wallet in a single transaction on April 9 and its record-breaking destruction of 1,494,278,561 SHIB on April 15. 

Data extracted from Shibburn.com further shows that the total SHIB burned from the meme token’s initial supply is 410,633,269,626,818 (~410.6 trillion), at press time.

The teeming Shiba Inu army remains committed to burning SHIB as they believe reducing the total supply of the second-largest decentralized meme token would help in boosting the value of the token. 

Likewise, the project development team is working tirelessly to onboard more utilities for SHIB via projects such as Shibarium and SHIB Metaverse. Although it may take some time, the ultimate aim of the community is to take SHIB to $0.01.


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

Ndianabasi Tom

Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.

Recent Posts

Ripple President Shares When RLUSD Will Launch

Ripple's RLUSD stablecoin has entered beta testing, with a broader release anticipated upon regulatory clearance.…

17 minutes ago

Analyst Predicts New ATH for the Dogecoin Price in Few Days, Points to Altcoin Competitor Eyeing 42,120% Rise

The Dogecoin price is again making waves, with analysts predicting a new all-time high (ATH)…

4 hours ago

Chartist Predicts 5 XRP Price Milestones If Bitcoin Hits These Bullish Points

Experienced crypto analyst EGRAG has projected that XRP could reach remarkable price levels if Bitcoin…

6 hours ago

Shiba Inu News: SHIB Burns Skyrocket 1800%, Cardano Aims For $1 As Price Surges 60%, While Yeti Ouro Tops Presale Charts

In the ongoing bull market, memecoins have provided the best opportunities, and to keep its…

7 hours ago

Are $1 SHIB, $600 SOL, and $10 XRP Possible? This XRP Alternative Could Deliver 5000% Gains Instead!

Cryptocurrency enthusiasts are buzzing about the potential for massive gains in popular tokens. There's speculation…

10 hours ago

Pro-XRP Lawyer States Two Key Reasons Why Bitcoin Will Sustain Rally

Attorney Jeremy Hogan, a prominent figure in the XRP community, recently outlined two key developments…

10 hours ago