2.60 Billion Shiba Inu Burnt In 7 Days Helping Shib To Gain 15% On Weekly basis, 297M Shib Burned In 24 Hours

2.60 Billion Shiba Inu Burnt In 7 Days Helping Shib To Gain 15% On Weekly basis, 297M Shib Burned In 24 Hours

As Shiba Inu (SHIB) token gains some serious burning momentum, summer starts well for the coin.

A whopping total of 2,604,802,620 (2.60B) SHIB tokens have been taken out of circulation forever within the last seven days and 297,703,474 (297.70M) in the past 24 hours.

Shibburn.com recently reported 191 transactions towards the dead wallet during the last week, through which 2,604,802,620 (2.60B) dog-themed token has been burned by community-led burning initiatives.

Record BURN Event of the Week:

The biggest Burn Event of the week was from ShibaBurn, a new token aiming to burn SHIB while using 5% of its tax fees collected from its holders. The event was covered live on Mathew G. Perry’s official Youtube Channel named “Let it Burn” and had set a new record as they have been able to burn 1 billion SHIB in just a single transaction.

Past 24 Hour Burn:

Besides this, seven transactions have been tracked by the SHIB burn tracking service within the last 24 hours. These seven transactions were responsible for burning 297,703,474 (297.70M) SHIB tokens. Six transactions destroyed 7.7M shib, while the biggest burn in 24 hours was 290M tokens taken out of circulation with one transaction.

As per data provided by Shibburn.com, a total of 410,308,350,345,615 (410.30T) Shiba Inu has been taken out of circulation forever from the initial supply of 1 quadrillion tokens. Whereas 39,657,610,091,180 (39.65B) of SHIB has been staked by holders on ShibaSwap. In this way, the current circulating supply of SHIB comes out to be 550,034,039,563,204 (550.03T) tokens.

Burn Impact on SHIB Price:

Shiba Inu token prices experienced a surge of 15.07% over the week as the burning of Shiba Inu tokens has started gaining momentum. At the time of writing, Shiba Inu’s price is trading at $0.00002629, up over 6% for the day, as per data provided by CoinMarketCap (CMC). The 24-hour trading volume for the most popular dog-themed cryptocurrency also surged 109.11% to $1,104,265,059 ($1.10B) compared to the previous trading day.

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Original Source : thecryptobasic.com

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