Over Tens of Billions of SHIB Burned in May as the Following Happened to Shiba Inu

Shibburn crypto tracker has summarized the overall amount of Shiba Inu tokens burned over the past 31 days of May. This turned out to be nearly 16 billion meme coins.

In May, Shiba Inu reached several major milestones related to its Shibarium beta and security rating. Some of that contributed to the massive amount of burned SHIB that occurred during that month.

15.4 billion SHIB locked in dead wallets

According to a recent tweet by the aforementioned source, in May, the Shiba Inu community burned a total of 15,369,335,177 SHIB meme coins worth less than $150,000, taking 191 transactions to achieve that impressive result.

🔥🔥🔥 15,369,335,177 $SHIB tokens have been burned in the month of May with 191 transactions. #shib

— Shibburn (@shibburn) June 1, 2023

During May, every week, massive lumps from slightly over one billion to more than three billion SHIB were burned by recently launched project Blaze Token. This week they have burned 3,601,495,249 Shiba Inu, for example.

In total, to date, the Blaze Token team has burned 11,557,310,052 Shiba Inu – nearly all that was transferred to unspendable SHIB wallets in May.

Over the past 24 hours, the SHIB burn rate shows zero value, but still, 13,800,784 meme coins have been removed from the circulating supply.

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Shibarium reaches new milestones in May

Several times last month, the beta version of Layer 2 protocol Shibarium (called Puppynet and launched on March 11) reached significant milestones, expanding its utility.

We are talking here about the number of linked wallets surpassing first the 15 million and then stepping over the 16 million mark. At the time of this writing, this metric's value sits at 16,478,906 wallets in total. Data has been provided by Puppyscan.

The overall amount of performed transactions on Puppynet has reached 15,271,397, and the total number of blocks by now is 1,084,532, with each block produced now in 9.7 seconds. On May 31, a peak in transactions was reached – 668,209.