Main navigation

SHIB Burn Rate Jumps 2,080%, Burning Weekly Amount of Close to Billion in 24 Hours

Tue, 03/28/2023 - 10:21
article image
Yuri Molchan
Shiba Inu community continues to burn staggering chunks of SHIB, despite weak price performance
SHIB Burn Rate Jumps 2,080%, Burning Weekly Amount of Close to Billion in 24 Hours
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Massive amounts of prominent meme token SHIB continue to disappear from the circulating supply thanks to the joint efforts of the Shiba Inu community and the recent launch of Shibarium testnet.

This time, the amount of burned SHIB over the past 24 hours is equal to what they transferred to dead wallets in the past week.

SHIB army burns nearly 1 billion tokens

According to the figures shared by the Shibburn tracker on its website and Twitter page, over the past 42 hours, a total of 802,428,808 Shiba Inu has been pushed out of circulation in six transactions. This pushed the burn rate up by 2,080%.

Among them was one transfer that moved a whopping 794,858,822 SHIB to an "inferno" wallet.

During the past week, as U.Today covered earlier, the SHIB community burned 834,804,461 SHIB in 82 transactions. In total, these two make up 1,642,854,789.

By now, according to Shibburn, 410,391,857,902,711 Shiba Inu tokens have been cumulatively burned, making this nearly half of the initial one-quadrillion supply.

410 Trillion Shiba Inu (SHIB) Burn by Ethereum's Vitalik Buterin Might Be Biggest of All Time: Details

Biggest SHIB burn ever made goes down in history

After the launch of Shiba Inu in August 2020, its mysterious founder calling himself Ryoshi transferred approximately half of the supply to a wallet that belongs to Vitalik Buterin.

Buterin burned the biggest part of this chunk and also donated $1 billion worth of Shiba Inu to the Crypto Relief fund in India that helps fight the consequences of the pandemic.

After that, $100 million in Shiba Inu from that donation was sent back to Buterin. The aforementioned fund had been set up by Polygon co-creator Sandeep Nailwal.

He explained this partial "refund" made to Buterin by having to obey Indian laws that set hard limits on projects that can accept donations from one person or organization.

Buterin was then driven to create a fund called "Balvi." It works directly with projects that create vaccines, ventilators and other similar products and sends donations to these nonprofit organizations.

article image
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