Over 700 million SHIB have been successfully lit on fire by the Shiba Inu community in the last day, according to the Shibburn meme crypto tracker. It was destroyed in only one trade, perhaps half of it.
Some in the SHIB community think that a valued Shiba Inu spouse that breeds cold wallets is to blame for the destruction of this enormous lump of Shiba Inu. As the debut of the Layer 2 solution Shibarium approaches quickly, the quantity of burnt SHIB is rising in the interim.
716.4 million SHIB burned
Shibburn reports that during the last 24 hours, active SHIB fans have used 97 transfers to reduce the number of Shiba Inu meme tokens in circulation by a whopping 716,485,403 tokens.
Notably, a brand-new wallet that has only performed six transfers, including this one, burned 342,561,867 SHIB a few hours ago, erasing slightly less than half of that value in a single transfer.
The burns during the last week were extremely amazing; in all, 1,164,755,557 SHIB were permanently locked up in unspendable wallets over the course of the past seven days.
Tangem wallet maker could be involved
One X user speculated that Tangem, a Swiss manufacturer of cold crypto wallets, which teamed with SHIB last year to construct their branded cold wallets for them, may have made this huge transaction.
On Saturday, the official SHIB account on X expressed the possibility that Tangem may join the neighbourhood in burning Shiba Inus. When they first converted their SHIB wallet sales revenues into SHIB, Tangem stated that they were prepared to burn 5% of those profits. The wallet manufacturer has saved 3,524 USDT as of Saturday. At the time of this writing, this is the equivalent of 337,224,880 Shiba Inus, which puts it very close to the previously quoted SHIB number of 342,561,867.
Shibarium launch could be 1-2 days away
The Blockchain Futurist Conference will take place in Toronto on August 15 and 16 and be supported by Shiba Inu and other well-known cryptocurrency businesses. Shytoshi Kusama, the head developer who succeeded the enigmatic creator Ryoshi as leader, made a pledge to deliver a lecture via an AI app during the conference and discuss decentralisation, SHIB, Shibarium, and their exciting possibilities for the near future.
The SHIB community anticipates that Kusama will officially introduce Shibarium, a Layer 2 blockchain, at the conference. Additionally, Shytoshi vowed that after the release of Shibarium, he would demonstrate SHIB’s superiority to Elon Musk’s X app.
