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Shiba Inu Burns Reaching Millions Daily, 185M SHIB Burnt in 24 Hours, While 8.25B Shib Burnt By Team Developed Burn Mechanism


thecryptobasic.com 24 March 2022 09:24, UTC
Reading time: ~2 m

Shiba Burn is Gaining some serious momentum.

The burning of Shiba Inu (SHIB) took a breather following two consecutive days of massive burn in billions. Shibburn.com recently confirmed 6 transactions towards dead wallets via tweet and reported that only 186,565,061 (186.56M) SHIB tokens had been taken out of circulation in the past 24 hours.

In the past 24 hours, there have been a total of 186,565,061 $SHIB tokens burned and 6 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy

— Shibburn (@shibburn) March 24, 2022

Whereas 2,179,200,944 (2.17B) Shiba Inu tokens were taken out of circulation forever during the last two days by three tokens named ETH SHIBA, 1CENT, and ShibaBurn.

On Tuesday, ShibaBurn, a new token, had set a new record of burning 1 Billion Shiba Inu (SHIB) tokens in one massive transaction. The burn was broadcasted live on Matthew G Perry’s official Youtube channel named “Let It Burn.”

Major Burns Since OCT last Year

After Following the above achievement, later on, Steven Cooper, an owner of Bigger Entertainment, came up with the figures and pointed out that the community-led initiatives are doing a fantastic job as according to his knowledge, since October, up till now a total of 263.4 Billion SHIB tokens, worth 6.3 Million dollars at current price had been taken out of circulation forever through community-led initiatives.

However, the figures were later corrected by Shibburn.com. Shibburn.com Highlights the Contribution of Shiba Inu (SHIB) Developers towards Burn; 8.25 Billion Out of 20.32 Billion SHIB Burnt was by Burn Mechanism Built by SHIB Developer Team since October 2021.

Shibburn.com revealed via a tweet that actually 20,328,353,283 (20.32B) SHIB tokens have been destroyed in total since October, out of which the major part i.e., 8,257,497,191 (8.25B) is burnt through the Shiboshi’s renaming fee, a burn mechanism built by SHIB developer team.

Total burned since Oct-2021 is actually 20,328,353,283 (8,257,497,191 of it is due to Shiboshi's renaming fee – burn mechanism by dev team) https://t.co/PbmO3ubsiO

— Shibburn (@shibburn) March 23, 2022

Revealing the correct data, Shibburn.com highlights the contribution of SHIB developers towards burning. This is because most of the time, this fact is overlooked by the SHIB Community.

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