Main navigation

300 Million SHIB Burned by This New Burner, 276 Million SHIB Gone in 24 Hours

Sat, 27/08/2022 - 20:00
300 Million SHIB Burned by This New Burner, 276 Million SHIB Gone in 24 Hours
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

As reported by Shibburn, a tracking platform focused on transactions that reduce the current circulating supply of the Shiba Inu canine token, within the last 24 hours, the SHIB army has managed to burn more than a quarter of a billion SHIB.

Another big lump of SHIB gets burned

The overall amount of Shiba sent to dead-end wallets in the past day and night comprises 276,280,888 tokens in 22 transactions.

Besides, close to the same amount of meme coins was burned in a single transfer by a mysterious wallet — a total of 160,549,026 SHIB.

Burns are performed by the SHIB army on a daily basis in order to reduce the amount of Shiba Inu tokens circulating on the market at the moment. Burning implies sending tokens to "inferno" wallets, from which they cannot be withdrawn or spent, basically getting locked there and pushed out of circulation, so a coin becomes more scarce. The SHIB army burns its coins in hope that when the coin becomes scarce, its price will spring up the chart.

Compared to Friday, the burn rate has gone up by over 25% by now. Overall, a total of 410,378,568,111,971 SHIB tokens have been burned from the circulating supply. But there are still 558,186,954,742,224 SHIB in circulation out there and it will take a long time for the SHIB army to reduce it significantly.

Amazon Has "Had Serious Impact" on Burning SHIB on This Platform in August: Details

This new platform has burned nearly 300 million SHIB

A new SHIB spin-off build on the Binance Smart Chain (BNB Chain) that trades on the PancakeSwap decentralized exchange, SHIBABAE, is also taking part in burning Shiba Inu.

In a recent tweet, a Twitter account related to it, @SHIBABAEtoken, announced that more than two weeks ago they burned 139 million SHIB, and just recently they removed another 160 million canine tokens, sending them to unspendable wallets.


Latest Press Releases

Shiba Inu's Shytoshi Kusama Ignites SHIB Army With New Bullish Tweet
'Rich Dad Poor Dad' Author Reveals His Possible Actions Should Bitcoin Crash
Is Shiba Inu Getting Ready for Death Cross? Critical Cardano Breakdown, Next Bitcoin (BTC) Support Level Revealed
Monster Bitcoin (BTC) Purchase Mystifies Community
Fidelity Surpasses BlackRock and Other ETFs by Daily Bitcoin Inflows Today
Nvidia Surpasses Entire Crypto Market as AI Hype Picks Up Steam
Cardano Praised by Dan Gambardello As Strong Chain While Avalanche Hit By Outage
Shiba Budz (BUDZ) Novel Meme Coin Pre-Sale Gaining Steam in Late February as Majors Dogecoin (DOGE), Shiba Inu (SHIB) Remain in Tops
Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today
Ethereum Dencun Upgrade Date Confirmed by Devs
Millions of XRP Shifted by Whales as Price Hits Key Support
Binance Web3 Wallet Announces Massive Crypto Giveaway to Celebrate ERC-404 Integration
Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red
Spot Bitcoin ETFs Break Record With $50 Billion Trading Volume
Ethereum (ETH) Price Prediction for February 23
Solana (SOL) Price Prediction for February 23
BlockDAG Network (BDAG) Pre-Sale Might be Gaining Steam in February since Retik Finance (RETIK), and eTuk Tuk (ETUKTUK) Communities Show Interest
Shiba Inu Developer Excites SHIB Community With Tweet, What It Pertains To
SHIB Army Receives Crucial Warning From Shiba Inu Team
MetaClip (MCLP) Cryptocurrency Sale Campaign Invites Investors as XRP Price Growing
Our social media
There's a lot to see there, too

Popular articles