Weekly Burn Rate Up 282% As 1.16 Billion Shiba Inu Burned in a Week, 716M in a Day

Over 1.16 billion Shiba Inu (SHIB) burned in the past week, 716.48 million in the past 24 hours.

Shiba Inu Community has set fire to 1,164,755,557 (1.16 billion) SHIB in the last seven days. The remarkable feat is achieved through two hundred and seventeen (217) separate transactions.

In the last 7 days, there have been a total of 1,164,755,557 $SHIB tokens burned and 217 transactions. #shib pic.twitter.com/r6Gu8qMsC4

— Shibburn (@shibburn) August 13, 2023

This represents a 282% increase in burn rate compared to the past week, where the Community removed 304,764,835 (304.76 million) SHIB through one hundred and fifty-four (154) individual transactions.

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MARSWAP (MSWAP)

MARSWAP (MSWAP), a native token of MARSWAP DEX, emerged as the top SHIB burner of the week. The community-driven SHIB burn project embarked on an aggressive burning spree over the weekend, eliminating 939,788,095 (939.78 million) SHIB from circulation forever through one hundred and one (101) distinct transactions.

MSWAP has implemented a 2% tax on every transaction. The project utilizes this tax to buy and burn SHIB. 

On August 13th, the project officially reached the milestone of over 3 billion burned SHIB tokens.

WE HAVE BURNT OVER 3 BILLION #SHIB #shiba #ShibaInu
🔥🔥🔥🔥🔥🔥

Marswap in the last 24h:
Total tokens burned in the last 24h: 463,303,767 SHIBA
Total since 22nd May:
Total tokens burned since 22-May-2023: 3,057,174,842 SHIBA@ShytoshiKusama @Shibtoken @thecryptobasic pic.twitter.com/fkTDiQkO2h

— MARSWAP – Shibarium DEX & DeFi Platform (@MARSWAP1) August 12, 2023

Past 24 Hours Burn

Per Shibburn.com, the Community has destroyed 716,485,403 (716.48 million) SHIB through ninety-seven (97) separate transactions in the past 24 hours. 

In the past 24 hours, there have been a total of 716,485,403 $SHIB tokens burned and 97 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/fbmmhNAMV2

— Shibburn (@shibburn) August 14, 2023

Despite the massive burn, the overall SHIB burn rate plunged 16 percent over the last day.

On the other hand, the Whales’ interest in Shiba Inu revived ahead of the highly anticipated Shibarium launch. As reported earlier by The Crypto Basic, a newly surfaced Whale accumulated 4,599,850,345,603 (4.59 trillion) SHIB, valued at $48,252,430 ($48.25 million) in one robust transaction.

In addition, Shytoshi Kusama, the lead developer of SHIB, has officially confirmed that the remaining BONE supply will soon be minted, leading to the renunciation of the BONE contract. This announcement has left Shiba Inu enthusiasts on the edge of their seats as they eagerly await the Shibarium Mainnet launch. However, the team remained tight-lipped about the exact launch date.