A record amount close to 750 million SHIB has been incinerated in only the past 24 hours, as reported by the SHIB burn tracker that goes by that same name on Twitter: @shibburn. The company accumulates data on Shiba Inu burn transactions from etherscan, making it easier to find for the Shib Army.
742 million SHIB removed within 24 hours
The @shibburn account has tweeted that an astounding 742,702,200 Shiba Inu have been removed from the circulating supply in a record period of 24 hours. Previously, the tracking service reported that the maximum amount burned over this period seldom exceeded 100 million.
On March 4, though, as U.Today reported, this was 213,640,225 SHIB.
The current amount of SHIB destroyed over the last day and night took the community 10 transfers to dead-end wallets.
The two largest burn transfers here, according to Shibburn, were lumps of 400,068,259 and 327,564,569 Shiba Inu.
On March 13, the team behind @shibburn tweeted that there are many other factors that can help the SHIB price skyrocket, aside from token burns. They did not specify what these factors exactly are, though.
So far, the numerous burn initiatives and frequently held "burn parties" have not helped the second-biggest meme coin by market cap, SHIB, to even get back to its October all-time high.
At the moment, the token price remains down 75.78% from the October 2021 historic peak of $0.00008845 per token. At the time of writing, SHIB is changing hands at $0.00002144, as per data provided by CoinMarketCap.
In the past 24 hours, there have been a total of 742,702,200 $SHIB tokens burned and 10 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy— Shibburn (@shibburn) March 15, 2022
Over 570 million SHIB to be burned on March 17
The @shib_superstore Twitter account that uses part of its profits from advertisements in games, selling merchandise, etc., to buy SHIB in order to burn it later, tweeted yesterday that during the upcoming token burn on March 17, they intend to incinerate at least 575 million SHIB canine tokens.
This is one of the most active burn teams on Twitter, aside from Bigger Entertainment, which started destroying Shiba Inu coins in late October last year and, since then, the overall amount of SHIB they have locked up in unspendable wallets is close to one billion.