Shiba Inu (SHIB) community keeps burning its meme tokens, destroying another 140 million over past week

In the past 24 hours, more than 7.1 million Shiba Inu (SHIB) were destroyed and permanently out of circulation. However, the amount of SHIB burned in the last week unfinished was more than 20 times greater.

7.1 million Shiba Inu (SHIB) burned over 24 hours, while 140 million were destroyed in past week

In the last 24 hours, during the execution of four transactions, 7,108,679 tokens were transferred. Transactions performed 2,218,114; 1,124,780, 1,132,023 and 3,553,793 to empty addresses, totaling $192. To date, 410.3 trillion SHIBs have been burned from the one quadrillion of the initial supply.


Source: Shibburn/Twitter

A closer look at open access data published by the etherscan team shows that 138.9 million SHIBs were removed from circulation by burning in the last six days and three hours. The largest transfers were 103,270,223 (three days ago) and 10,716,185 (six days ago).


Source: Etherscan

Despite consistently burning a significant amount of SHIB and the fact that 41% of the original trillion-dollar supply was locked to a trusted address, the second most popular coin meme on the market has by now fully retraced its October rally.

Since January 2, SHIB has lost 21.34% of its value, falling from $0.00003422 to $0.00002642. Currently, the token is changing hands at a slightly higher price – $0.00002683 – on the Binance exchange.

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