Friday, October 7

Burn Rate Surged 162.98% As 216.30 Million SHIB Was Destroyed via 15 transactions In The Last 24 Hours.

As a habit in the Shiba community, burning is paramount in other to maintain the price cap of Shiba Inu and also to control the amount in circulation.

Shiba Inu community has just taken another 216.30 Million SHIB to the burning portal in the past 24 hours. This burning was done via 15 transactions.

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The burn rate surged 162.98% over the last day when only 83,335,225 (83.33M) SHIB were sent to “inferno” addresses through 9 separate transactions.

Top SHIB Burners

The burning of a total of 100 Million Shiba Inu tokens has made 1CENT and ETH SHIBA, the two community-driven tokens which are dedicated to burning Shiba Inu the top Shib Burners of the day as revealed by weekly Burn Events organized on Monday.

1CENT

As stated by Etherscan, 1Cent token organized its Weekly Burn Event on Monday, June 20th (Monday). Through this event, the team behind the token removed a total of 52,170,994 (52.17M) SHIB in one significant transaction.

It was shown by their official website, that the 1CENT has incinerated a whopping total of 2,546,766,448 (2.54B) SHIB through 16 separate transactions since March 14th, 2022.

Read Also: Dogecoin’s large transactions rose 68% Due To Whales’ Activities.

ETH SHIBA

More also, as the report of the burning done the 20th of June, the event revealed the burning of 50 million Shib via “inferno” address in one significant transaction using the official SHIB Burn Portal powered by Ryoshi Vision.

ETH SHIBA claims to have burnt a total of 2.45 billion since it came into existence three months ago.

Over 2.2 Billion SHIB Burnt By Amazon Burner Since November at Price 50% Higher Than Now

A figure of more than 2.25 billion meme tokens was named, and recently the shop has been using Amazon for its weekly SHIB burns as stated by the @shib_superstore, account on Twitter that was set up for an online shop of game developer, Travis Johnson.

@shib_superstore added that most of the total amount of destroyed Shiba tokens was burned when the coin traded 50 percent higher than now.

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