In the latest incineration process by Blaze Token (BLZE) over 1.2 Billion SHIB has been burned bringing the total burn to 7.9 Billion SHIB since it started the new initiative.
Shiba Inu which is known as a meme-inspired cryptocurrency has been making headlines over its dramatic increase in burn rate.
In the latest burn announcement, Blaze Token disclosed that it had burned 1,238,951,893 SHIB. The Idea behind the incineration is that by reducing the total supply of token available in the market, the remaining token becomes relatively scares, which can potentially increase their perceived value, leading to an increase in their market price.
🔥BURN ANNOUNCEMENT 🔥$SHIB BURN 1,238,951,893 BILLION 🚀🚀🚀$BLZE BURN 441,720,872 MILLION 🚀🚀🚀
TOTAL TO DATE $SHIB BURN
🔥 7,955,814,803 BILLION 🔥
TOTAL TO DATE $BLZE BURN
🔥 8,326,560,479.21 BILLION 🔥#SHIBARMY #SHIBBURN #CryptoNews
— Blaze Token (@blaze_token) May 22, 2023
The project mentions that it has independently burned 7,955,814,803 Billion SHIB Tokens to date. Besides the significant burn of SHIB tokens, Blaze Token has also burned over 441 million BLZE of its native token.
Read Also: Shiba Inu Burns A Staggering Over 2.07 Billion SHIB In A Week
The information about the burn as disclosed has attracted great attention within the Shiba Inu community, this is seen in the interest of investors and different supporters expressing their interest in partnering with Blaze Token in the future.
Note that Shiba Inu’s Team is not connected with Blaze Token, nor are they involved in this burning activity. Blaze Token has decided to burn SHIB as part of their method for the project.
Recall that cryptolifedigital reported a record-breaking burn transaction that happens on March 17th when Koyo Token sent 924.150.949 (924.15m) SHIB to the dead wallet in one transaction, Blaze Token Has to Burn a considerable 2 Billion SHIB Tokens, which was valued at close to $20 thousand.
In the last 7 days, there have been a total of 2,072,114,690 $SHIB tokens burned and 290 transactions. #shib
— Shibburn (@shibburn) March 19, 2023
Again, in a period of seven days 3.7 Billion SHIB Token has been moved to extinction.
According to data from a community-driven of Shiba Inu burn tracker, the latest SHIB Token burn can be estimated to be about 2372.57% in the last 24 hours and has reached 26.000%. 410.6 SHIB tokens have been incinerated so far.
In conclusion, the mission of Blaze is targeted at burning SHIB, and it statistically seems that their aim is progressively being achieved.