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.
The SHIB community continues to burn Shiba Inu meme coins relentlessly. This time, a mammoth half a billion meme coins got burned.
However, this staggering amount of SHIB was destroyed during the past seven days, and the weekly burn rate dropped by 19.84% compared to the week before that.
552,519,804 SHIB burned this week
A week prior to that, the SHIB army succeeded in burning more than 1 billion Shiba Inu.
The things stand differently with the daily burn rate. According to a recent tweet issued by the Shibburn tracking service, a total of 13,526,731 SHIB has been torched, which pushed the overall burn rate 1,906.84% up.
Three largest burn transactions carried 8,710,589, 3,039,513 and 1,641,320 SHIB to unspendable blockchain wallets.
In total, 410,750,102,615,531 SHIB meme coins has been burned since 2021. The majority was removed from circulation by an Ethereum co-founder Vitalik Buterin, who received half of the initial quadrillion supply from the mysterious SHIB founder Ryoshi.
Now, 584,526,650,000,203 SHIB continue to circulate the cryptocurrency market.
Vladislav Sopov
U.Today Editorial Team