Almost 190 million Shiba Inu have been sent to dead-end addresses over the past 24+ hours

Since yesterday morning, nearly 190 million Shiba Inu (SHIB) have been sent to the dead wallet, making SHIB more scarce and reducing the circulating supply. Meanwhile, SHIB has demonstrated slight growth in the past 24 hours, and its price has increased by almost 8% in the past week.


SHIB/USD 4-hour chart | Source: TradingView

187.5 million Shiba Inu (SHIB) burned as SHIB prints daily and weekly rise

A recent tweet by the aforementioned tracker shows that over the past 24 hours, the circulating supply of SHIB has decreased by a total of 186,565,061 tokens.

Most of that was burned in just one transaction — 168,944,352 SHIB. The transfer was made from the address 0x28c6c06298d514db089934071355e5743bf21d60.

On March 23, the head of the Bigger Entertainment SHIB burning business, Steven Cooper, announced that as of October 2021, the Shiba Inu community started burning its tokens, including 263.4 billion SHIB burned by various projects and individuals.

Two billion SHIBs from that sum were burned within 48 hours before the release of that tweet.

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