Over 131 million SHIB have been permanently removed from circulation as a result of the most recent SHIB burn, according to the Shibburn tracker of transactions that remove Shiba Inu meme currencies from the supply.
In the meantime, the main mechanism, which among other things aids in doing big SHIB burns, is very almost done achieving an incredible usefulness milestone.
SHIB burn rate spikes 1,812%, millions of SHIB destroyed
According to the Shibburn tracker, the Shiba Inu community has successfully transferred an astounding 100 million SHIB to dead-end wallets in the previous 24 hours. The amount of Shiba Inu meme coins that were removed from circulation was 131,456,481.
In this burn streak, the greatest transaction included 123,661,759 Shiba Inus. SHIB was burnt in somewhat smaller chunks that held 5,000,000, 2,500,000, and 2,000,000 SHIB. Less than two million meme coins were transferred in all the other transactions.
U.Today stated earlier this month and in late November that the Shiba Inu development team, led by the enigmatic Shytoshi Kusama, carried out many mammoth-sized fires. They burned almost 36 billion meme coins in total moving four pieces of Shiba Inu, each worth 8.5 billion SHIB (about equivalent to $90,990 in currency).
The team’s significant financial savings on Shibarium transaction costs made these burning possible. A part of the BONE petrol fees are reserved and will be converted to SHIB and sent to blockchain addresses that cannot be used. Nonetheless, the developers have amassed $1 million in BONE, and Shytoshi Kusama has declared that billions of SHIB would be destroyed. Thus, the trades listed above were only the start; in 2024, a staggering quantity of SHIB will need to be destroyed.
Shibarium on brink of new all-time high
The layer-2 blockchain Shibarium is developing at an astounding rate, breaking records every day and setting new ones the next, according to Shibariumscan monitoring. The total number of completed transactions as of this writing has almost reached the astounding 200 million milestone.
This week, Shibarium has been adding millions of newly executed transactions every day. Every day progress in this statistic was about five or six million transfers last week.
