Shiba Inu community has disposed of another large amount of SHIB, pushing burn rate high
The Shibburn tracking service that burns itself periodically has announced that in the past 24 hours, the burn rate of SHIB tokens has increased by almost 103% compared to the previous day.
It happened as another large amount of SHIB was sent to dead-end wallets.
SHIB’s burn rate up 103%
According to data published on the Shibburn website, within the past 24 hours, various entities and individuals in the SHIB military have transferred 59,638,305 SHIB coins to dead-end wallets, where they will be permanently locked.
This burn has increased the overall burn rate of Shiba Inu by 102.62%. Among the burn transactions, two of the biggest stand out. These two made by mysterious wallets together burned 45.7 million Shiba Inu. These wallets are:
0xf2a0ebbc6ae86445e798cffcad2054480f05d4ee And 0x4693e541bd7f63ffbb08651cd18381bb640bf163.
Token burns are conducted with the goal of reducing the circulating supply of Shiba Inu in order to make the coin more scarce and are eventually targeted at sending its price through the roof. However, now that a year has passed since many started to burn SHIB, the impact it has had on the price is close to zero.
Amazon Burner intends to beat August Burns
This month, Travis Johnson’s Shib Burn platform, known on Twitter as the “Super Shib Store,” intends to surpass the amount of Shib it managed to burn in August.
So far in September, the platform has burned approximately 187 million Shiba Inu worth $2,007. Roughly $400 for these burns was earned on commissions from the Amazon affiliate program. This is the only entity so far that is using the Amazon affiliate program to burn meme tokens.
BabyDoge Shiba Inu Burns More Than Force
However, the small-cap meme token BabyDoge is burning a lot more than the SHIB army. On September 27th, the BabyDoge team destroyed 46x more meme coins than the SHIB army, as covered by U.Today.
The BabyDoge team removed 13,364,615,564,375 coins worth $15,623 compared to 130 million SHIB evaluated at $1,430.
In June of this year, the BabyDoge community voted to allow developers to burn 50 quadrillion of BabyDoge. It was burned on July 1 and since then, they have continued to destroy Babydogge’s eye-popping volume.
