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SHIB Army Removes 405 Million Shiba Inu Over Last 24 Hours: Report

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Sat, 05/07/2022 - 09:40
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Yuri Molchan
Nearly half a billion Shiba Inu has been locked in dead wallets, making the circulating supply shrink further
SHIB Army Removes 405 Million Shiba Inu Over Last 24 Hours: Report
Cover image via stock.adobe.com

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SHIB community has destroyed another massive amount of Shiba Inu since last morning, sending nearly half a billion meme coins to unspendable addresses in the ecosystem.

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Image via Shibburn

405 million Shib tokens destroyed

Shibburn crypto tracking service that picks up data from etherscan has reported that in the past 24+ hours, several enterprises and individual burners have sent a total of 405,282,493 meme tokens of the circulating supply to a few “inferno” wallets.

This was done with a goal to make Shiba Inu slightly more scarce with a potential of a price increase in the long term.

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The biggest single transfer was 112,462,000 SHIB. It occurred approximately 12 hours ago from the 0x28a121e4732d7cc5972b16e48590103b2574f806 address.

On Friday, U.Today covered that the recently established SHIB burn portal burn.shibaswap had eliminated a staggering 25 billion Shiba Inu within merely two weeks since its launch.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.