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Friday, March 1, 2024

Shiba Inu (SHIB) in Flames: Over 1.6 Billion Tokens Burned

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  • A newly emerged Blaze token burnt more than 1.6B SHIB.
  • Currently, Shiba Inu is down by $0.000008841 as per CoinMarketCap.

Shiba Inu (SHIB), a special meme coin called ‘DOGECOIN KILLER’ has become popular over the weeks. Consequently, more Shiba Inu tokens got burnt and kept surging. In the meantime, CoinMarketCap reported that SHIB reached a peak at $0.00001 in the last week.

Moreover, another emerging token named Blaze (BLZE) has joined hands with Shiba Inu. This leads to massive SHIB burns over a different daily volume. The timeline of the Blaze token is quite interesting and is planned for the year 2023. The execution of each quarter is specified for Q2, Q3, and Q4 respectively.

Burn Rate On Massive Increase

On a recent report, Blaze has burnt 1,695,524,269 SHIB tokens which are worth $15,327 to the current market price. Overall, 3,700,789,543 SHIB tokens are burnt by Blaze. Meanwhile, a set of 1,079,412,440.61 Blaze is burned on the other hand. Totally, an account of 6,463,010,909.18 Blaze tokens is burned in the process so far. In the end, the burn rate skips to 38071.39% than the last day, lead by the recent burn transaction.

https://t.co/yzqjpuP3qX#SHIBARMY We have done it again!
Another 1,695,524,269 $Shib BURNED!
Total $Shib burned by #Blaze = 3,700,789,543 $Shib
Another 1,079,412,440.61 $Blze BURNED!
Total $Blze burned = 6,463,010,909.18 $Blze
Join @blaze_token Together We Grow

— Blaze Token (@blaze_token) May 8, 2023

In the last 24 hrs, more than 3.9 million SHIB tokens are transferred to a dead wallet. As per CoinMarketCap analysis, Shiba Inu is currently down at $0.000008841 with an 11.23% decrease over a $213,102,594 trading volume. Whereas, the circulating supply values more than 589 trillion in the crypto market.

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