Over $3 Billion Worth of Shiba Inu (SHIB) Tokens Have Been Burned

Shiba Inu, the second-largest meme cryptocurrency, recently cracked a new major milestone, with total tokens burnt surpassing 410 trillion SHIB.

Based on Etherscan, the amount of SHIB tokens locked in the SHIB burn address recently reached 410.35 trillion tokens, currently valued at about $3.41 billion.

• Vitalik Buterin remains the largest SHIB burner of all time, two years after burning about 410.24 trillion SHIB in May 2021. It’s this historical ban that popularized SHIB vastly within the crypto community.
• Blaze Token (BLZE) is the second top SHIB burner, having incinerated about 11.7 billion SHIB worth $96.7k. An unknown wallet holds the third spot, sending 10 billion SHIB valued at $124.3k to burn addresses.
• Finally, KOYO and MarSwap hold the fourth and fifth positions, having burnt 9.49 billion and 5 billion SHIB tokens from circulation.
• On Aug. 22, the SHIB community set a new record, burning 1.01 billion SHIB in only 24 hours. However, the SHIB burn rate has resumed its initial declines reported last week.
• SHIBBURN reported that over 1.84 billion SHIB tokens were burnt in about 255 transitions last week. This was a 38.76% reduction in the weekly SHIB burn rate.

Shiba Inu burns stats. Source: SHIBBURN

• Even more recently, stats indicate a decreasing trend in the number of SHIB tokens burnt daily. For instance, in the 24 hours preceding the writing of this report, about 47.59 million SHIB tokens were reported burnt, a 50% drop from the preceding period.

The post Over $3 Billion Worth of Shiba Inu (SHIB) Tokens Have Been Burned appeared first on CryptoPotato.