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673 Million Shiba Token Burned By Shib Initiative

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Shiba army doing the most as they are pushing support for the memetoken to soar high in price, through burning the shib token to reduce its supply in circulation.

Shiba Inu
Shibburn

Just recently, another large amount of shiba tokens which is close to a billion has been burned.

673 Million Shiba Token Burned!

Shiba token burn rate is increasing rapidly as a lot of shiba army initiatives are burning the shib token to increase scarcity and drive the price high in the long run.

Over the last 24 hours, 673,182,667 shib tokens as being burned, sending token to a dead address.

However, the burn rate has soared to 1890% over the last 24 hours at the time of writing this.

Shiba burn
Shib burn rate

While the shib army keeps burning shib tokens, shiba whales keep accumulating the shib token for the long term.

On June 28, 2022, the tracking website for shiba, “Shibburn“, reported through a tweet that 134,370,659 shib token was burned. It took 14 transactions to remove that many Shib canine tokens.

Millions of shib tokens are being burned daily, The community keeps burning to reduce the circulating supply and thus take the coin’s price to new highs.

Total Amount of Shib Token Burnt

At the time of writing this, a total of 410,375,627,508,489 shib tokens according to the data of the shibburn website, is been sent to a dead address which is burnt forever.

Total shib burned

31,515,069,225,888 Shib token is been staked across all decentralized finance platform.

Check out: OVERVIEW OF THE MOST POPULAR ALTCOINS IN 2022

Also read Radicle Crypto Pumps Despite Crypto Winter

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Onyeka is a multiple google ranked content writer. Loves to cover stories on Blockchain and Cryptocurrency and write in a way that is captivating and understandable.

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