Shibburn Crypto Tracker has provided data showing that over the course of the last 24 hours, the combined efforts of the SHIB community have allowed for the destruction of more than 130 million coins featuring Shiba Inu dogs. As a result, the burn rate abruptly reversed direction and entered the green zone.
SHIB burn rate shows increase, 100 million burned in single shift
According to data from Shibburn, 132,048,047 SHIB tokens have been destroyed in total during the past 24 hours, a rise of more than 80% in the burn rate of the Shiba Inu dog cryptocurrency.
One enormous chunk of SHIB sticks out as the largest on the list of burn transactions; it was an astounding 100,000,000 meme coins that were moved to a dead wallet in a single transfer.
The second largest transaction is a burn of 19,922,771 SHIB, followed by the shovelling of 10,000,00 SHIB to a dead-end blockchain address.
Overall, 410,659,417,460,474 SHIB tokens, or slightly more than half of the initial SHIB supply produced by Ryoshi, the enigmatic SHIB creator, had been taken out of circulation as of this point, according to the Shibburn statistics. After receiving half of the quadrillion SHIB supply as a gift from Ryoshi in May 2021, Vitalik Buterin, co-founder of Ethereum, burnt the majority of these SHIB. Buterin wished to have them removed from use.
Here’s how Shibarium-based burns can be tracked
Shibburn also revealed earlier this week that it is developing a new service that would enable the SHIB community to start keeping track of Shiba Inu burns based on Shibarium. The tracker displays the amount of BONE that the developer team has put aside from Shibarium’s petrol fees and, therefore, the amount that will be converted into Shiba Inu and burnt.
The amount of BONE that has to be gathered before the first SHIB burn may be made is currently displayed on the website.
According to this website, transaction fees on the Layer-2 blockchain have so far generated 0.000011771827 BONE worth $0.000009511789.
The total number of transactions on Shibarium has hit 2,900,000 as of this writing, according to the most recent report from the Shibariumscan explorer. The daily transaction peak is currently at about 40,000 following a sharp increase to 200,880 on September 13.
