Shiba Inu tokens are being burnt in a hurry, the burn rate reached 300 percent

The burning of Shiba Inu tokens is not taking its name to stop. In the last week, within a year and a half, the SHIB community burned more than 121 crore tokens. On Tuesday, the Shiba Inu’s burning activity tracking platform reported that the burning rate increased by 300% within 24 hours. Let us tell you that in the second week of this month, the same tracker had told that 542 million tokens were burnt in a week.

Shiba Inu Burning activity monitoring platform Shibburn provides burn rate information on its website. According to U Today, the tracker’s burn chart on Tuesday morning showed a burn rate of 300%. However, at the time of writing the news, it was on a rise of around 20%.

Shibburn’s accordingAs of Tuesday morning, a total of 213,344,808 SHIB tokens were burned through 14 transactions in the last 24 hours.

On the other hand, Shibburn on Monday made another Tweet It was informed that 57,304,085 SHIB tokens were burnt in the last 48 hours.

This process of burning has accelerated since the new burn portal was opened in May by the Shiba Inu team in collaboration with Ryoshi Vision. Last week, 1,214,431,010 tokens of SHIB were burnt. 121 transactions were used for this burning. This is an average of 10 million tokens burned per transaction.

The same platform reported on August 21 that the Shiba Inu community had burned 542 million (54.2 million) SHIB tokens within a week. These tokens were sent to the dead wallet.

The developers of the popular Mime Coin are working on bringing new projects to their community. The lead developer of this meme coin, Shytoshi Kusama, recently said that burning millions of SHIB requires a huge community effort. In a tweet from a Twitter handle SHIB BPP, it was said that around 111 lakh crore SHIB could be burnt in the next few months. This does not include community burns. The SHIB Discord moderator says that both ShibaSwap and Layer 2 Shibarium may have a large stake in it.

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