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1.5 Billion Shiba Inu (SHIB) Burned Within 24 Hours

Sat, 04/15/2023 - 12:38
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Tomiwabold Olajide
1.5 billion Shiba Inu (SHIB) burned in 24 hours
1.5 Billion Shiba Inu (SHIB) Burned Within 24 Hours
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Massive amounts — 1.5 billion Shiba Inu tokens — were reported by the Shibburn Twitter account to have been burned in the last 24 hours.

Shibburn reports that in the past 24 hours, there have been a total of 1,524,520,814 SHIB tokens burned and 12 transactions.

Within the said time frame, the SHIB burn initiative reported a handful of transactions carrying millions of SHIB to be burned.

Noteworthy is a huge burn transaction reported on April 14 at about 8:16 a.m., in which 1.49 billion SHIB (1,494,278,561 SHIB) was transferred to a dead wallet.

Another notable burn transaction is that of 16.7 million SHIB (16,712,083 SHIB) sent to the burn address in a single transaction.

SHIB had an initial total supply of 1 quadrillion or 1,000,000,000,000,000 tokens. According to the Shibburn website, the total burned so far from the initial supply is 410,632,927,829,053 SHIB.

At the time of writing, SHIB was marginally down in the last 24 hours at $0.00001124.

Shibarium beta interacting wallet addresses surpass 5 million

Shibarium, the Layer-2 solution for the Shiba Inu ecosystem, is seeing a massive utility spike as the total number of interacting wallets has surpassed the 5 million mark to stand at 5,833,853 at the time of writing.

On March 11, Shibarium beta's "Puppynet" went live, allowing users to test the Layer 2 protocol's capabilities and find any problems that needed to be fixed before the mainnet launch. Testing remains on course as Shibarium beta continues to set new milestones.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.