1 August 2026
2017 Million Shiba Inu Tokens Were Burnt In The Last 24 Hours
As per the recent tweet from SHIB Burn, the blockchain’s native burn tracker system, around 201,786,888 Shiba Inu (SHIB) tokens were burnt in the past 24 hours. There were 17 transactions initiated by anonymous wallets to burn these tokens.
According to the official SHIB Burn website, an anonymous wallet moved 651,505 SHIB tokens to the dead wallet in a single transaction. This transaction took place around 03:37:52 AM +UTC today.
The SHIB team launched their native Shib Burn Portal in late April to burn existing SHIB tokens. The burn aims to reduce the circulating supply. The team claims that “scarcity can increase the price of the tokens”.
The official data of the burn portal reveals that a total of 410,366,901,284,437 SHIB tokens were burnt and shifted onto the dead wallets. Once burnt, these tokens can never be retrieved from these dead wallets and thereby making Shiba Inu (SHIB) a scarce token. This makes the team believe that scarcity might cause the token’s value to surge.
The token caught the attention of one of the top 500 ETH whales. BlueWhale0073 acquired nearly $1.56 million worth of SHIB. Although the token is in a bearish trend, investors continue to look out for the memecoin.
The price of this memecoin spiked shortly by 2.64% in the last 24 hours. The market value of the second largest memecoin rose 2.42% in the last 24 hours from $5.94 billion to $6.08 billion. According to CoinMarketCap, at the time of writing, SHIB traded at $0.00001110. 556,125,167,783,870 SHIB tokens are in supply.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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