The recent tweet shared by Shibburn.com noted that it has burnt a whopping amount of 127,821,443 (127.82M) SHIB in one robust transaction.
It is worth noting that the first dedicated SHIB burn project in the Shiba Inu community is Shibburn.com and since its inception has been doing tremendously well in reducing the circulating supply of the Shiba Inu from the staggering one Quadrillion.
Read Also: Anonymous Wallet Burns Over 35 Million LUNC, 127.5M Were Burnt Via 0.2% Tax Burn In 24 Hours,
Per another tweet by Shibburn.com, it revealed that it would be further incinerated as soon as it receives payments from Shibburn Radio ads and Super Followers.
Shibburn.com Burns A whopping amount Of SHIB
Consequently, the Shib burn rate has spiked by 1069.26% following the massive burn over the past 24 hours.
Notably, the community has destroyed a total of 134.95 Million SHIB through 10 separate transactions in the past 24 hours, as Shibburn tweeted.
Read Also: Terra Classic Core Developer, Edward Kim, Publishes A Proposal To Re-open IBC Channel Before The Next Network Upgrade
it is worth noting that since the inception of Shibburn in June 2021, it has built three revenue streams which include Shibburn.com, Shibburn Radio, and Twitter Super Followers, and dedicated 40% of its earnings to burn Shiba Inu.
In this view, the circulating supply of Shiba Inu has tremendously reduced since the burning mechanisms were put in place. For instance, over 410.38T SHIB has been burnt till now from the initial supply of 1 quadrillion, putting the remaining token in the supply to the 589,617,198,889,890 points which out of the remaining supply, over 27.21T SHIB has been staked on ShibSwap.