Shiba Inu Official Wallet Becomes Week Top SHIB Burner As Community Burns 1.8B Shib in 7 Days

Over 1.84 billion SHIB burned in the past week, 106.30 million in the past 24 hours.

The Shiba Inu burn rate declined over the past week as the Community burned more than 1.84 billion SHIB.

Shiba Inu Community has permanently removed 1,840,593,165 (1.84 billion) SHIB, worth $15,573, from circulation through two hundred and fifty-five separate transactions in the past seven days.

In the last 7 days, there have been a total of 1,840,593,165 $SHIB tokens burned and 255 transactions. #shib pic.twitter.com/6r179JulIu

— Shibburn (@shibburn) August 20, 2023

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This figure showcases a notable -38.76% decrease in the burn rate compared to the past week.

The biggest burn event of the week occurred on August 14, when Tangem, the Swiss-based hardware wallet manufacturer, transferred 342,561,867 (342.56 million) SHIB to the dead wallet in a single transaction.

The development comes as a direct fulfillment of Shiba Inu’s team commitment to burn SHIB tokens equivalent to 5% of the cumulative wallet amount generated from the sales of Tangem wallets.

As reported earlier by The Crypto Basic, the Swiss company had dispatched 1,007 SHIB hardware wallets to SHIB enthusiasts over the past months.

Past 24 Hours

The latest data from Shibburn.com reveals that the Community has reduced the Shiba Inu tokens supply by eliminating an additional 106,300,211 (106.30 million) SHIB from circulation forever via twenty-three distinct transactions in the past 24 hours.

MARSWAP, a community-driven token, emerged as the top SHIB burner of the day. The project set fire to 80,474,169 (80.47 million) SHIB through twelve separate transactions.

In addition, the Blaze token destroyed 22,575,549 (22.57 million) SHIB in a single transaction.