Shiba Inu Burn Rate Surges Around 8000% Ahead of Shibarium Launch

• A total of 43,192,603 (43.19M) SHIB have been burned.
• One wallet delivered a tremendous sum of 23,000,000 (23M) SHIB to the dead wallet.

The total number of Shiba Inu (SHIB) burnt during the previous 24 hours is over 43.19 million, with over 23 million of them coming from a single trade. A total of 43,192,603 (43.19M) SHIB have been permanently withdrawn from circulation by the Shiba Inu Community in a total of nine separate transactions in the last 24 hours.

To put this in perspective, on the previous day just 539,295 Shiba Inu tokens were burned over two transactions, for a whopping increase of 7909 percent in the SHIB burn rate, making this a very spectacular feat.

The most amount of the Shiba Inu tokens has been burned from the wallet with the name “thehammerman.eth” throughout the previous day. According to the information given by Etherscan.io, this wallet delivered a tremendous sum of 23,000,000 (23M) SHIB to the “inferno” address in a single transaction. Because of this massive burning, the wallet now has just 40,177,592 (40.17M) SHIB.

Dramatic Increase in March So Far

In addition to the 1.12 Billion SHIB burned in January, SHIB Army burned 352,210,738 (352.21M) SHIB over 128 unique transactions in February. February saw a precipitous drop in burns, while March has seen a dramatic increase in SHIB burns thus far. 

Shiba Inu’s L2 Network’s native gas token, Bone ShibaSwap (BONE), on the other hand, is attracting the attention of major exchanges. It is reported that Crypto.com, the biggest exchange with over 50 million registered users, has introduced support for BONE to its platform.

In the meanwhile, Shytoshi Kusama, the project’s chief developer, has dropped hints that Shibarium Beta might be released in the next few days. Kusama, however, urged users to hold off on purchasing anything from Shibarium’s storefront until the mainnet launched.