Shiba Inu keeps on decreasing its supply through continuous burns.
Over 38.31 Million Shiba Inu burned in the past 24 hours. One prominent Community-led SHIB Burn initiative sent 11.40 Million Shiba Inu tokens to the ‘inferno’ address in a single transaction.
Shibburn.com recently reported that a whopping 38,314,702 (38.31M) SHIB has been moved out of circulation forever by the Shiba Inu Community through 5 separate transactions in the past 24 hours.
In the past 24 hours, there have been a total of 38,314,702 $SHIB tokens burned and 5 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) November 22, 2022
The Community-led SHIB Burn Project, named the “1Cent” token, contributed significantly to the past 24-hours burn, and incinerated a considerable amount of canine-themed cryptocurrency in a single transaction.
1Cent Token organized its Weekly SHIB Burn Event on Monday, November 21st, and reduced Shiba Inu’s circulating supply by sending 11,406,208 (11.40M) SHIB to the dead wallet in one transaction.
Following the Burn Event, the 1Cent token shared the burn transaction link via tweet with the Community as a “Proof of Burn.” In the tweet, the SHIB Burn Project confirmed that besides Shiba Inu, it has also put a match to 45 Bone ShibaSwap (BONE) and 63 Cardano (ADA).
Seguimos cumpliendo cada semana..
— 1Cent (@1Cent_token) November 21, 2022
The development doesn’t have any immediate impact on the SHIB price. At press time, Shiba Inu is trading at the price of $0.000008236, down -4.72% over the last day, with a 24-hour trading volume of $185,286,910 ($185.28M).
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Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.
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