The newly launched Shiba Inu burn campaign, burn.shibaswap, has achieved incredible success and removed 22.5 billion Shiba Inu from the circulating supply within a week of starting operation. The multiple other Shib burn campaigns have burned approximately 708 million meme tokens in the last 24 hours.
🔥🔥 22.5 BILLION SHIB BURNED!! 🔥🔥 Next stop, 25B! 🚂 ……… #SHIBARMY pic.twitter.com/gw9zlpEi9m
— Archangel (@RealCryptoAngel) May 1, 2022
Burn.shibaswap campaign
Burn.shibaswap had burnt a total of 20 billion SHIB till Saturday and added 2.5 billion more to the count on Sunday making this figure 22.5 billion tokens. This freshly launched SHIB burn gateway is quickly gaining traction in the crypto world, delivering significant quantities of the second biggest meme currency to dead-end wallets.
22.5 Billion SHIB token burning effect and its price
Digital currencies are burnt in order to make the token scarcer which increases their value due to an increase in demand. However, Shiba Inu has not yet experienced a significant rise in price due to burning. It is still trading 76.25% below its all-time high price of $0.00008845 hit in October. After reaching a local high of $0.00002196 on May 1, the coin’s price dropped to $0.00002084. This was preceded by a 15% reduction in SHIB’s price, which fell from a high of $0.00002538 to $0.00002152 on April 30.
Recent statistics about Shiba Inu
Shibburn, a cryptocurrency burn tracker, has posted data gathered from Etherscan on its website concerning over three-quarters of a billion SHIB. According to Shibburn’s website, a total of 410,336,474,455,179 tokens have been burnt and removed from the SHIB circulating supply. In the last 24 hours, a total of 708,881,094 Shiba Inu have been burnt. There are currently 410,336,474,455,179 SHIB tokens in circulation.
