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Shibburn: Over 200 Million SHIB Burned in 24 Hours, Burn Rate Surges 162% over the Last Day

Despite the situation in the market, the Shiba Inu army is not dissuaded from keeping the SHIB burning, considering the daily burn reports from Shibburn, the channel that tracks all transactions of Shiba Inu tokens to the dead wallets.

Over 200 Million SHIB Tokens Burned in 24 Hours

According to the recent report posted by Shibburn, the Shiba Inu Army collectively burned a total of 216,301,162 SHIB tokens in the last 24 hours via 15 transactions.

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Shibburn tweeted, “In the past 24 hours, there have been a total of 216,301,162 SHIB tokens burned and 15 transactions.”

Read Also: Analytics Firm: Shiba Inu (SHIB) Could Reach $5 by 2050

SHIB Burn Rate Surges 162% over the Last Day

Data also revealed that there was an increase in the number of SHIB tokens destroyed per day. The burn rate reportedly surged by 162.98% over the last 24 hours.

Shibburn: Over 200 Million SHIB Burned in 24 Hours, Burn Rate Surges 162% over the Last Day

Over 100 Million SHIB Burned Between 1Cent and ETH Shiba

According to 1Cent and ETH Shiba, the weekly SHIB burn event was held as usual and over 100 million SHIB tokens were burned between them via one transaction each.

1Cent organized its weekly burn event on the 20th of June, resulting in the destruction of 52,170,994 SHIB tokens in one transaction.

Based on the update on 1Cent’s official website, a total of 2,546,766,448 SHIB tokens have been permanently removed from Shiba Inu’s circulating supply via 16 transactions since the 14th of March 2022.

Read Also: Shiba Inu (SHIB) Discussed On a Very Popular FM Radio Channel in Argentina

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Similarly, ETH SHIBA destroyed a total of 50 million SHIB through the weekly SHIB burn event conducted on Monday. According to the report, the whopping burn played out via a single transaction using the SHIB Burn Portal powered by Ryoshi Vision.

So far, ETH SHIBA has managed to burn a total of 2.45 billion tokens through its weekly burn event. ETH SHIBA was launched in March as a mechanism to continuously destroy Shiba Inu tokens.


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Solomon Odunayo
Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.
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