Shiba Inu’s burning tracking website Shibburn has informed via its Twitter handle (via U.Today) that SHIB fans are taking a large portion of tokens out of circulation with the technology of “token burns”. It has been informed that about 220 crore tokens of SHIB have been burnt in about 7 days last week, of which a quarter has been burnt in about 24 hours.
Shibburn says that between March 14 and March 20, about 200 million SHIB tokens have been transferred to a dead wallet. A dead wallet is a cryptocurrency address that has been dormant for many years. They always have funds, but there are no outgoing transactions from them. This means that these accounts cannot further re-spend these SHIB tokens nor can these tokens be withdrawn from them.
Shibburn on Sunday Tweet A total of 1,633,542,121 Shiba Inu tokens have been transferred to multiple dead wallets. By that time, the total value of these tokens was around $37,979 (approximately Rs 29 lakh). All these transfers have been done through 55 transactions.
Not only that, other made by Shibburn on Sunday Tweet It was reported that a total of 175,109,831 SHIB tokens were taken out of circulation through 87 transfers in the last 24 hours. After that on Monday Also 392,838,690 tokens were sent to the dead wallet through just 4 transactions. This together is about a quarter of 220 crores.
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