Shiba Inu, a popular cryptocurrency, has experienced a significant increase in its weekly burn rate, resulting in the elimination of over 708.76 million SHIB from circulation. The latest data from Shibburn.com reveals a remarkable 1747% surge in burn rate compared to the previous week.
SHIB UPDATE$SHIB Price: $0.00000797 (1hr 0.87% ▲ | 24hr -0.53% ▼ )
Market Cap: $4,686,734,171 (-0.76% ▼)
Total Supply: 589,350,023,839,869TOKENS BURNT
Past 24Hrs: 328,438,383 (10688.75% ▲)
42 transactionsPast 7 Days: 708,766,124 (-5.14% ▼)
69 transactions…— Shibburn (@shibburn) June 25, 2023
MARSWAP, Koyo Token, and Mysterious Wallet Identified as Top SHIB Burners
Notable contributors to this surge include MARSWAP (MSWAP), Koyo Token (KOY), and a mysterious wallet. Additionally, an intriguing development involves a bankrupt crypto lender, Voyager, transferring a substantial amount of SHIB to an unknown wallet.
Read Also: Shytoshi Kusama’s Cryptic Tweets and Collaborations Ignite Excitement in the Shiba Inu Community
- Increased Burn Rate Surpasses 708.76 Million SHIB: The Shiba Inu Community has successfully burned 708,766,124 SHIB over the past week, marking a significant increase compared to the previous week’s burn rate. This surge highlights a growing trend of reducing the SHIB token supply.
- MARSWAP (MSWAP) Emerges as Top SHIB Burner: MARSWAP, a newly emerged token, has contributed significantly to the recent burn rate increase. Through forty individual transactions on Sunday, June 25th, MARSWAP permanently removed 302,622,563 SHIB from circulation. This substantial contribution positions MARSWAP as one of the primary burners during the week.
- Koyo Token (KOY) Makes a Remarkable Burn Contribution: Koyo Token (KOY) secured the second spot on the “Top SHIB Burners” list for the week. On Wednesday, June 21st, KOY transferred 252,873,213 SHIB to the Inferno address in a single transaction, effectively eliminating them from circulation. The significant burn by KOY demonstrates its commitment to reducing the SHIB token supply.
- Mysterious Wallet Sets Fire to 84.40 Million SHIB: An unidentified wallet made a substantial contribution to the burn rate by eliminating 84,405,747 SHIB on June 21st. The motive behind this sizeable burn remains unknown, adding an air of mystery to the event.
- Shiba Inu Community’s Collective Effort: The Shiba Inu Community has collectively removed 328,438,383 SHIB from circulation within the past 24 hours. This remarkable achievement was accomplished through forty-two distinct transactions, demonstrating the active participation of community members in reducing the token supply.
- com Bot App Suspended on Twitter: While Shibburn.com’s bot app is currently suspended on Twitter, users can still access the latest information on Shiba Inu burns through the official website. This allows enthusiasts and investors to stay updated on the burn rate and the overall supply dynamics of SHIB.
- Voyager’s Wallet Transfers 287 Billion SHIB: In a separate development, the wallet associated with the bankrupt crypto lender, Voyager, has transferred a staggering 287 billion SHIB to an unknown wallet. The exact motive behind this transfer remains unclear, raising questions about the intentions behind such a substantial movement of SHIB.
Read Also: Ripple vs SEC Lawsuit Sparks Increased Interest and Adoption of XRP
conclusion
Shiba Inu has witnessed a remarkable surge in its weekly burn rate, resulting in the permanent elimination of over 708.76 million SHIB from circulation. MARSWAP, Koyo Token, and a mysterious wallet have emerged as the top contributors to this increased burn rate. Additionally, the transfer of 287 billion SHIB by Voyager’s wallet to an unknown destination has sparked curiosity within the cryptocurrency community.
Follow us on Twitter, Facebook, Telegram, and Google News.