Shiba Inu [SHIB] regularly demonstrates its foundation as a project led by the community. The synchronized daily token burns serve as evidence of this collaborative approach. It appears that the collective endeavors of the community are beginning to yield results. Recent information from Etherscan.io indicated that the combined SHIB tokens held within the designated burn address have surged to a substantial 410.35 trillion SHIB, translating to a total worth of $3.41 billion.
Vitalik Buterin, Blaze Token [BLZE], a mysterious wallet, Koyo Token [KOY], and MARSWAP [MSWAP] constitute the roster of the most prolific SHIB token burners in history. Vitalik Buterin continues to hold the title of the largest SHIB token burner. He has maintained the position even after two years since sending about 410.24 trillion SHIB in May 2021 to the dead wallet.
Securing the second position among the leading SHIB token burners is Blaze Token, which has eradicated nearly 11.7 billion SHIB tokens. This is equivalent to $96.7k in value. Taking up the third rank, an unfamiliar wallet dispatched 10 billion SHIB tokens worth $124.3k to be burned. In the fourth and fifth slots stand KOYO and MarSwap. They have respectively contributed to the burning process by taking out 9.49 billion and 5 billion SHIB tokens from circulation.
At present, Shiba Inu’s burn rate is recorded at a positive 79.51%. Furthermore, in the past 24 hours alone, a cumulative total of 85,194,367 SHIB tokens were eliminated through burning processes.
How many SHIB tokens have been burned since Shibarium?
The release of Shibarium, the eagerly awaited layer-2 network of Shiba Inu, sparked considerable enthusiasm. Yet, its impact on both the token price and the burning rate remained limited. For instance, the weekly token burning of Shiba Inu during the week of the launch decreased by 38.76%. Shibburn’s data shows the destruction of a total of 1,840,593,165 SHIB tokens, spread across 255 transactions throughout the week.
Furthermore, the token-burning numbers following the introduction of Shibarium were below the initially projected figures. Initial predictions suggested that the Shiba Inu network would witness the burning of 5 trillion tokens each month after the implementation of Shibarium.
Also Read: Shiba Inu: Can Shibarium Still Burn 5 Trillion Tokens Monthly?
SHIB moves downward once again
Following an abrupt surge over the past 48 hours, the meme coin once again found itself in a declining trend. At press time, SHIB was being traded at a value of $0.000008073, exhibiting a decline of 3.26% within the day. It’s also important to highlight that the meme coin saw a notable 19.6% decrease over the past 14-day period.
Also Read: Shiba Inu: Shibarium Attracting New Users to the SHIB Ecosystem
