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Shiba Inu Ignites: Over 1B Tokens Torched in 7 Days as Marswap Takes the Lead

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  • Over 1.16 billion Shiba Inu tokens burned in just one week, with 716.48 million obliterated in a single day.
  • Marswap’s community-driven initiative stands out, achieving a milestone of 3 billion burned SHIB tokens.

Marswap’s Aggressive SHIB Burn Initiative

In an unparalleled move, the Shiba Inu community has successfully incinerated an astounding 1.16 billion SHIB tokens in the past week, achieved across 217 discrete transactions. This surge depicts a whopping 282% rise from the previous week, during which 304.76 million SHIB tokens were consigned to oblivion across 154 individual transactions.

Playing a dominant role in this week’s burn bonanza is MARSWAP (MSWAP), the proprietary token of MARSWAP DEX. This community-driven SHIB burn project has ramped up its efforts, decimating 939.78 million SHIB from the total circulating supply in 101 separate transactions. But what’s driving this fervor?

Marswap has ingeniously instituted a 2% transactional tax. This revenue is then systematically used to purchase and subsequently burn SHIB tokens. This strategy bore fruit on August 13th, marking the extermination of over 3 billion SHIB tokens since the project’s inception.

However, the past 24 hours have thrown in a twist. Data from Shibburn.com reveals that while the community incinerated an impressive 716.48 million SHIB in 97 transactions, the total SHIB burn rate experienced a 16% drop.

Compellingly, this burn frenzy coincides with the rejuvenated interest from prominent SHIB investors, often termed ‘Whales’. With the Shibarium launch on the horizon, one such Whale garnered attention by procuring 4.59 trillion SHIB, representing an investment of roughly $48.25 million.

Amidst this burn euphoria and significant accumulation, Shytoshi Kusama, SHIB’s chief developer, declared the imminent minting of the remaining BONE supply, culminating in the BONE contract’s renunciation. This pronouncement has the SHIB aficionados buzzing in anticipation for the Shibarium Mainnet’s debut, though the team has yet to unveil the exact launch timeline.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628