Almost 750 million SHIB meme tokens have been incinerated, while an amount almost as big is to be burned on March 17
A record amount of nearly 750 million SHIBs have been cremated in the past 24 hours alone, as reported by the SHIB burn tracking who has the same name on Twitter: @shibburn. The company accumulates data on Shiba Inu etching transactions from etherscan, which facilitates research for the Shib Army.
742 million SHIB removed within 24 hours
The @shibburn account has tweeted that an astounding 742,702,200 Shiba Inu have been removed from the circulating supply in a record period of 24 hours. Previously, the tracking service reported that the maximum amount burned over this period seldom exceeded 100 million.
On March 4, however, as U.Today reported, it was 213,640,225 SHIBs.
The current amount of SHIB destroyed over the last day and night took the community 10 transfers to dead-end wallets.
The two largest burn transfers here, according to Shibburn, were masses of 400,068,259 and 327,564,569 Shiba Inu.
On March 13, the team behind @shibburn tweeted that there are many other factors that can help the SHIB price skyrocket, aside from token burns. They did not specify what these factors exactly are, though.
So far, the numerous burn initiatives and frequently held “burn parties” have not helped the second-largest meme coin by market capitalization, SHIB, even return to its all-time high in October.
At the moment, the token price remains down 75.78% from the October 2021 historic peak of $0.00008845 per token. At the time of writing, SHIB is changing hands at $0.00002144, as per data provided by CoinMarketCap.
More than 570 million SHIBs will be burned on March 17
Twitter account @shib_superstore which uses part of its profits from in-game ads, merchandise sales, etc., to buy SHIB to burn later, tweeted yesterday that in the next token burn on March 17 , they intended to cremate at least 575 million SHIB canine tokens.
This is one of the most active burn teams on Twitter, aside from Bigger Entertainment, which started destroying Shiba Inu coins in late October last year and, since then, the overall amount of SHIB they have locked up in unspendable wallets is close to one billion.
