Shiba Inu Token: The Shiba Inu has been burnt once again. The platform that monitors Shiba inu burning has informed that between last Friday and Saturday, 140 million SHIB tokens have been sent to the dead wallet through multiple transactions. Dead wallets are wallets that are not in use, and the tokens in them cannot be transferred to any other wallet. After being sent to these wallets the tokens go out of circulation and the total supply of tokens gets reduced.
Burning 140,223,703 Mime Coins Through Transactions
Shibburn informed through a tweet on Saturday, July 16 that within 24 hours, more than 140 million SHIB tokens were transferred to the dead wallet through a total of 25 transactions. Talking about the exact number, 140,223,703 MIME coins have been burned through these transactions and taken out of the total circulation.
The Shiba Inu team recently launched a new burning portal, with the aim of burning as many tokens as possible out of circulation. The project is also giving rewards for burning tokens. Obviously, the intention of burning a large number of tokens is to drive up the price of SHIB over a long period of time.
According to Shibburn’s website, a total of 410,373,759,584,302 SHIB tokens were burned. At present, about 557,956,601,501,854 SHIBs are in circulation. According to the platform, after burning more than 140 million tokens on July 16, the burn rate reached 137%. Although currently the burn rate is at 92%.
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