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2.6 Billion Shiba Inu Burned in Past 7 Days, While 300 Million Gone in 24+ Hours

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Mon, 03/28/2022 - 09:41
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Yuri Molchan
Almost three billion SHIB have been burned over the past week, while less than half billion was burned since yesterday morning
2.6 Billion Shiba Inu Burned in Past 7 Days, While 300 Million Gone in 24+ Hours
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Another substantial amount of SHIB has been disposed of over the past week and in the last 24 hours too, according to the @shibburn crypto tracking service.

2.6 billion SHIB gone in seven days

On Sunday, @shibburn published a tweet with data regarding the total amount of SHIB that had been burned since Monday, March 21. A comprised 2,604,802,620 Shiba Inu were destroyed.

The biggest single transaction that moved SHIB to an "inferno" wallet took place on March 22, carrying a whopping 1 billion tokens.

Overall, at the start of last week, more than two billion meme tokens were destroyed within just two days.

300 million SHIB gone in 24+ hours

The same Twitter account mentioned that over the past 24 hours and a few hours that followed, a total amount of 300 million SHIB was moved to dead-end wallets. That took 191 transactions.

Nearly all of it was burned within just one hour earlier today: 290,590,004 meme tokens.

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Three companies plan to burn SHIB

As reported by U.Today earlier, three businesses now plan to join the SHIB burning trend via NOWPayments. The aforementioned platform is currently testing a burning portal for SHIB and Doge Killer (LEASH). Italian burger chain Welly's, John Richmond fashion brand and Sorbillo's pizza chain are going to burn part of their SHIB profits via NOWPayments.

The goal of sending these meme tokens to unspendable addresses is to try to make this canine coin more scarce and, thus, push the price up significantly.

At press time, the 15th largest cryptocurrency, Shiba Inu, is showing an almost 7% rise over the past 24 hours and is exchanging hands at $0.00002634.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.