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New crypto project Living The Dream (LTD) contributes to the ongoing Shiba Inu burn campaign by destroying 250 million $SHIB tokens in a single transaction.
As usual, popular Shiba Inu community-driven burn tracker Shibburn indexed the transaction yesterday, emphasizing that 250 million $SHIB were sent to the official dead wallet.
According to data from Shibburn, the transaction occurred yesterday at exactly 14:55 (UTC). At press time, the dollar equivalent of these 250 million $SHIB tokens was around $3,232.
Living The Dream Burns 250M $SHIB
Although Shibburn did not reveal the identity of the user behind the transaction, data from Etherscan shows that a new crypto project, Living The Dream (LTD), burned the 250 million tokens.
The LTD team also confirmed the development in an X post yesterday, noting that it has burned 250 million $SHIB alongside 1 billion LTD tokens.
Since its August 30 launch, LTD has continuously demonstrated its support for Shiba Inu by burning huge amounts of $SHIB. Last month, the team destroyed 500 million $SHIB tokens in two days, including the incineration of 280 million $SHIB in a single transaction. These burns are part of Living The Dream’s ongoing campaign named “Shiba Burn Series.”
LTD’s continuous support of the ongoing Shiba Inu burn campaign is expected to reduce $SHIB’s massive circulating supply drastically.
Shiba Inu Burn Rate Surges 1,664%
Following LTD’s hefty incineration, Shiba Inu’s burn rate surged by 1,664% over the past 24 hours. Notably, the Shiba Inu community has witnessed the incineration of 250,898,588 (250.89 million) $SHIB in the past day.
These tokens were destroyed across three transactions, including LTD’s 250 million $SHIB burn. Overall, more than 41% of Shiba Inu’s initial supply of 1 quadrillion tokens has gone up in flames. This represents 410,728,736,646,852 (410.72 trillion) $SHIB tokens.
Currently, Shiba Inu has a max total supply of 589,271,261,353,147 (589.27 trillion). While 583.45 trillion of these tokens are currently in circulation, the remaining 5.81 trillion $SHIB are staked on ShibaSwap.