In the past week, over 42 million units of the Shiba Inu (SHIB) meme tokens have been sent to dead wallets, consequently burning the coins, according to the burn tracking website, ShibBurn. In the last 24 hours alone, nearly ten million SHIB coins were burned.
Currently, the total exterminated SHIB stands at over 410 trillion tokens, worth nearly $5 billion, going by the current rate of $0.00001201 per token. Nonetheless, Shiba Inu’s circulating supply exceeds 572 trillion units, with a market share of over $6.6 billion.
Furthermore, the recently launched layer-two blockchain scaling solution Shibarium reaffirmed that every transaction on its network would burn a SHIB token. The Shibarium team said that by implementing this feature, it hopes to significantly impact the circulating amount of the SHIB supply over time.
Source: Cryptocurrency - investing.com
