Shiba Inu Community Sets Fire to Over 2.7B SHIB in a Week

Over 2.73 Billion Shiba Inu (SHIB) burned in the past week. MARSWAP (MSWAP) and Blaze Token emerge as the top SHIB burners of the week.

Shiba Inu’s witnessed a decline in its burn rate over the past week as the Community burned 2.73 Billion SHIB.

In a recent report, Shibburn.com revealed that the Shiba Inu Community set fire to 2,734,359,742 (2.73B) SHIB through 130 separate transactions in the past seven days.

In the last 7 days, there have been a total of 2,734,359,742 $SHIB tokens burned and 130 transactions. #shib

— Shibburn (@shibburn) May 28, 2023

This recent figure showcases a notable decrease of -52.77% in burn rate compared to the past week, where 3,054,599,199 (3.05B) SHIB were permanently taken out of circulation via eight distinct transactions.

MARSWAP

One token, in particular, has emerged as the leading force behind this impressive burn rate. MSWAP made its debut on the ShibaSwap DEX on May 24^th. The newly emerged token sent a whopping 1,350,604,128 (1.35B) SHIB to the dead wallet through hundred separate transactions while implementing a 1% tax on all buy and sell transactions.

Blaze Token

Not far behind, Blaze Token has made its mark as the second top SHIB burner of the week. In a single transaction executed on May 23^rd, Blaze Token wiped out an astounding 1,238,951,893 (1.23B) SHIB from circulation forever, further contributing to reducing the token’s supply.

Past 24 Hours Burn

As reported earlier by The Crypto Basic, the Shiba Inu Community has destroyed 231,886,112 (231.88M) SHIB through eight individual transactions in the past 24 hours.