Shiba Inu Community sends millions of SHIB to the “inferno” addresses weekly.
Over 197.79 Million Shiba Inu (SHIB) burned in the past week. In one transaction, the mysterious wallet destroyed a massive 85,860,036 (85.86M) on the final day of the week.
Shibburn.com reported that Shiba Inu Community has executed 27 burn transactions in the past week and burned a total of 197,799,286 (197.79M) SHIB.
This large transaction caused the Shiba Inu burn rate to spike by 897.60% over the last day.
SHIB Burn Rate Soars 897%
SHIB Super Store, in their Weekly SHIB Burn Event on Monday, October 31st, 2022, permanently removed a total of 32,584,181 (32.58M) SHIB from circulation in one significant transaction using SHIB Burn Portal.
The Community-led initiative tagged “1Cent token” put a match to 22,432,755 (22.43M) SHIB in one noteworthy transaction. At press time, Shiba Inu is trading at the price of $0.00001203, down -2.09% over the last day, with a 24-hour trading volume of $415,921,120 ($415.92M).