Shiba Inu Burnt 2.60 Billion in Seven Days

A whopping sum of 2,604,802,620 (2.60B) SHIB tokens have been taken out of circulation permanently 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 throughout the last week, via 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 most significant Burn Event of the week was from ShibaBurn, a new token seeking 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 called “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

Excluding this, seven transactions have been followed by the SHIB burn tracking service within the last 24 hours. These seven transactions were liable for burning 297,703,474 (297.70M) SHIB tokens. Six transactions eliminated 7.7M shib, while the most significant burn in 24 hours was 290M tokens taken out of circulation with one transaction.

As per data supplied by Shibburn.com, 410,308,350,345,615 (410.30T) Shiba Inu has been taken out of circulation forever from the initial supply of 1 quadrillion tokens. At the same time, 39,657,610,091,180 (39.65B) of SHIB have been risked 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 underwent a surge of 15.07% over the week as the burning of Shiba Inu tokens has begun gaining momentum. At the time of writing, Shiba Inu’s price is trading at $0.00002629, higher by over 6% for the day, as per data supplied by CoinMarketCap (CMC). The 24-hour trading volume for the most popular dog-themed cryptocurrency also swelled 109.11% to $1,104,265,059 ($1.10B) compared to the last trading day.