Shiba Inu Surpasses 20,000 Burn Transactions With 41.08% of Supply Burned

Shiba Inu has surpassed 20,000 burn transactions, according to the Shibburn website, which gives the total count as 20,696.

In all, 410,839,848,304,549 SHIB tokens worth $7,358,037,071 have been burned. This represents 41.08% of the initial SHIB supply. Shiba Inu had an initial supply of 1 quadrillion tokens at its launch.

Following thousands of burn transactions over the years, Shiba Inu’s total supply has shrunk to 589,160,151,695,451 SHIB, according to the Shibburn website.

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In the last 24 hours, 1,591,370 SHIB were burned, adding up to 59,338,197 SHIB sent to dead wallets in the last seven days. A cumulative of 196,822,452 SHIB has been bought in the last 30 days. The 1,591,370 SHIB burned in the last 24 hours marks an 81.28% drop from the past day, reversing a rise from April 15.

Biggest SHIB burn of all time

While a total of 410,839,848,304,549 SHIB tokens burned remains notable in Shiba Inu’s burn push, a single transaction that contributed significantly to this figure cannot be overlooked.

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In May 2021, Ethereum co-creator Vitalik Buterin burned 90% of his SHIB holdings, totaling around $7 billion at the time, after he was unwillingly gifted half of SHIB’s total supply. Over 410 trillion tokens were sent to a dead blockchain address in a single transaction, removing them from circulation. The remaining 10% was earmarked for charitable causes by the Ethereum co-creator.

According to analysts, 410 trillion Shiba Inu burned by Ethereum creator Vitalik Buterin remains among the biggest single crypto transactions of all time.

A number of transactions have a place in history, but none stand out compared to Buterin’s massive 410 trillion Shiba Inu burn if transactions to burn addresses are taken into consideration. The $7 billion burn by the ETH creator might also be among the biggest transactions of all time if this is considered.