Shibburn, a platform that tracks Shiba Inu burn rates states over 1.04 billion $SHIB were burned in the last 24-hours. Adding to a total of 2.2 billion $SHIB being burned over the last week. The cryptocurrency’s burn rate has gone up astronomically to 12,448%.
Data from Shibburn states that over 410 trillion $SHIB has been burned from the original supply of tokens. These tokens are being sent to inaccessible wallets, meaning that the funds can never be reached, essentially locking them out of the circulating supply permanently.
Out of the 1 quadrillion initial Shiba Inu tokens released, there are just under 550 trillion in circulating supply. A majority of the $SHIB was burned by Ethereum co-founder, Vitalik Buterin. An enormous sum of tokens was gifted to him and he, in turn, donated 10% to a COVID Relief Fund in India, the remaining 90% were burned in a transaction removing around 410 trillion from the circulating supply.
