Main navigation

4 Billion SHIB Burned in Week, Millions More Shiba Inu Tokens Burned Within 24 Hours

article image
Tomiwabold Olajide
SHIB burning expected to receive boost in days and months to come
4 Billion SHIB Burned in Week, Millions More Shiba Inu Tokens Burned Within 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

The Shibburn Twitter account has reported a whopping 4 billion Shiba Inu tokens burned within the last seven days.

"In the last 7 days, there have been a total of 4,175,261,803 SHIB tokens burned and 27 transactions," Shibburn reported.

Meanwhile, in the past 24 hours, a total of 123 million tokens (123,375,116) were burned in seven transactions. In the last hour, 879,460 SHIB tokens were moved to dead wallets.

SHIB burning is expected to receive a boost in the days and months to come as new support continues to emerge. Kuro, a Shiba Inu Japan community member, has shared a screenshot of an email from Tangem that highlights its contribution to SHIB burns.

Tangem to burn 5% of each SHIB wallet sold

Tangem, a Swiss-based blockchain firm, is currently developing a Shiba Inu-themed cold wallet and has confirmed 5,000 preorders.

According to the screenshot shared by Kuro, the Tangem team made it known that 5% of each SHIB wallet sold will be burned.

Tangem will also be expanding support for the Shiba Inu ecosystem, as it made it known that the Shibarium network will be added to the SHIB cold wallet soon. The possibility of storing Shiboshis securely in a Shiba Inu cold wallet remains on the road map.

In the past week, the Shibburn initiative informed the community that its new site would launch this month. The new website will track SHIB burns with the addition of new tools that will help with burns.

Users will have the opportunity to earn SHIB via its affiliate program and the upcoming Web3 advertising system. They will also have the opportunity to receive reward tokens for various tasks like burning, sharing, subscribing and engaging on social media.

article image
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.