- 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.
WE HAVE BURNT OVER 3 BILLION #SHIB #shiba #ShibaInu
🔥🔥🔥🔥🔥🔥Marswap in the last 24h:
Total tokens burned in the last 24h: 463,303,767 SHIBA
Total since 22nd May:
Total tokens burned since 22-May-2023: 3,057,174,842 SHIBA@ShytoshiKusama @Shibtoken @thecryptobasic pic.twitter.com/fkTDiQkO2h— MARSWAP – Shibarium DEX & DeFi Platform (@MARSWAP1) August 12, 2023
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.
WE HAVE BURNT OVER 3 BILLION #SHIB #shiba #ShibaInu
🔥🔥🔥🔥🔥🔥Marswap in the last 24h:
Total tokens burned in the last 24h: 463,303,767 SHIBA
Total since 22nd May:
Total tokens burned since 22-May-2023: 3,057,174,842 SHIBA@ShytoshiKusama @Shibtoken @thecryptobasic pic.twitter.com/fkTDiQkO2h>> Buy Shiba Inu quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with SHIB now. Visit Website <<
— MARSWAP – Shibarium DEX & DeFi Platform (@MARSWAP1) August 12, 2023
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.
In the past 24 hours, there have been a total of 716,485,403 $SHIB tokens burned and 97 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/fbmmhNAMV2
— Shibburn (@shibburn) August 14, 2023
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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