A shocking amount of nearly 13 billion SHIB has already been removed from the systemic circulation supply over the past 24 hours. As tweeted by the Shiba Inu transaction tracker @Shibburn, this is because the coin is being sent to dead-end wallets. The platform also burns Shiba Inu to help keep the supply down.
Most of this massive amount of SHIB was destroyed in just one hour.
In a tweet on May 18, Shibburn communicated that a truly astonishing 10,028,551,985 Shiba Inu tokens had been shifted to unspendable wallets in six exchanges a few hours earlier. This portion of SHIB is worth $123,551.
The tweet reads;
In the past hour, there have been a total of 10,028,551,985 $SHIB tokens burned and 6 transactions.
An anonymous crypto wallet burned 10 billion SHIB in a single transaction. This was the largest single burn transaction for Shiba Inu so far since the burn started.
price chart from Tradingview.com
The number is staggering, but the platform has made progress in containing it. For example, before the above news, the platform tweeted that about 2,677,017,916 Shib were stuck inside unspendable wallets; these took 92 transactions.
In the past 24 hours, there have been a total of 2,677,017,916 $SHIB tokens burned and 92 transactions. Visit http://shibburn.com to view the overall total of #SHIB tokens burned, circulating supply, and more.
The Shibburn project’s website reports that the burn rate of SHIB has increased by 5,189.09%.
Source: Kripto Haber