Recent amount of SHIB burned by community has led to spike in burn rate
The SHIB army continues to slowly remove small bales of Shiba Inu from the circulating supply, burning tokens every hour.
This time, they have managed to raise the burn rate by sending over 176 million meme tokens to dead-end wallets.
Burn rate increased, 176 million SHIB burned
The Shibburn platform that burns SHIB and tracks burn transactions of other users and organizations has shown on its website that, due to the large number of recently burned canine tokens, the Shiba Inu’s burn rate has increased by 256.13%. There has been a huge increase.
According to the data shared by Shibburn, which it took from Etherscan, over the past 24 hours, the Shib army has managed to send a total of 176,545,974 Shiba Inu, taking 29 transactions to achieve that.
Eleven minutes ago, according to the same source, about a third of the total amount of burned SHIB described above was sent in a single transfer to the “Hell” address: 49,250,514 tokens.
New SHIB burn portal emerges on horizon
As covered by U.Today over the weekend, @shib_superstore Twitter account that represents the shop of game dev Travis Johnson, announced that the shop has listed a new website that burns Shiba Inu.
However, it burns canine tokens based on website visits, while the shop allows the authors of the games presented there to earn some income. However, Johnson believes this new website could be useful in protecting non-SHIB holders from SHIB burns.
On Sunday, @shib_superstore managed to remove 49.5 million Shiba Inu worth $609 at the exchange rate on that day. By now, the overall amount of SHIB destroyed by this project since it kicked off last year totals 3.74 billion meme tokens.
Earlier this year, Travis Johnson’s shop was added to an Amazon affiliate program. Now, he is burning SHIB tokens using the commission earned on that too.
According to an earlier tweet, so far in August, nearly 23 million Shiba Inu have been burned.
