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Shiba Inu Army Burns 1,800,000,000 SHIB, Has Shibarium Helped Ramp Up The Burn Game?

Rene Peters

August 21, 2023

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The cryptocurrency community has been buzzing with discussions about the burn rate of $SHIB. Over the past week, a staggering 1,840,593,165 $SHIB have been burned across 255 transactions according to data from Shibburn. This significant number showcases the active measures being taken to regulate the token’s supply.

Burn Rate Insights

The burn rate of $SHIB has seen a decrease of 25.98% in the last 24 hours, with 106,299,211 $SHIB burned. Some of the recent burn transactions include:

• 400,520 $SHIB tokens burned 4 hours ago
• 2,993,341 $SHIB tokens burned 8 hours ago
• 3,699,896 $SHIB tokens burned 8 hours ago
• 119,904 $SHIB tokens burned 8 hours ago
• 227,525 $SHIB tokens burned 9 hours ago

It’s worth noting that burns are calculated using three special addresses. Two of these are dead wallets with no obtainable keys, and tokens sent to the Genesis address (Black Hole) reduce the supply. This mechanism ensures a transparent and effective way to manage the token’s supply.

The active burning of $SHIB tokens is a testament to the community’s commitment to ensuring a balanced supply and demand. As the burn rate continues to fluctuate, many in the community remain optimistic about the token’s future trajectory.

Contrary to high expectations, the aftermath of Shibarium’s launch witnessed a minimal number of burns. The community, which had been eagerly awaiting the platform’s impact on the token’s supply, found the initial burn rate post-launch to be relatively low.

At present, the price of $SHIB stands at $0.00000827 with a market cap of $4,871,275,628. Interestingly, from the initial supply, a whopping 410,655,688,470,564 tokens have been burned, leaving the maximum total supply at 589,344,311,529,435.

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