Shiba Inu Records 2.32 Billion SHIB Burn in September

Oct 3, 2023 | Market Data

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Shiba Inu Records 2.32 Billion SHIB Burn in September

Shibburn.com has unveiled the latest statistics for Shiba Inu monthly token burn, revealing that the community set fire to a total of 2.32 billion SHIB tokens in September.

According to Shibburn.com’s official tweet, the Shib Community executed 2,323,834,085 (2.32 billion) SHIB transfers to inferno addresses within the past thirty days. This impressive achievement was accomplished through a total of 426 individual transactions.

This report highlights a notable 59.34% decrease in the burn rate compared to the previous month, when the Shib Community established a record by incinerating 5,715,986,938 (5.71 billion) SHIB tokens across 763 separate transactions.

Taking center stage this month, Koyo Token (KOY) executed the most substantial burn transaction by sending 191,531,588 (191.53 million) SHIB tokens to the dead wallet on September 22. Koyo Token has actively participated in the Shiba Inu token burning process since March 9, 2023, with Etherscan.io data confirming their remarkable contribution of 9,685,424,962 (9.68 billion) SHIB tokens burned to date.

Moreover, Shiba Inu enthusiasts continued their burning streak in the final week of September, torching 427,873,503 (427.87 million) SHIB tokens across 129 distinct transactions.

FAQ’s

1. What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a cryptocurrency token inspired by the Shiba Inu dog breed, which gained popularity as a meme token in the cryptocurrency community.

2. How can I buy Shiba Inu (SHIB) tokens?

You can buy Shiba Inu (SHIB) tokens on various cryptocurrency exchanges. Create an account on a reputable exchange, deposit funds, and then trade for SHIB tokens.

3. Is Shiba Inu a meme coin?

Yes, Shiba Inu started as a meme coin but has since evolved into a cryptocurrency with its own ecosystem, including decentralized exchanges and NFT projects.

4. What is the purpose of the ShibaSwap decentralized exchange?

ShibaSwap is a decentralized exchange (DEX) built within the Shiba Inu ecosystem. It allows users to trade various cryptocurrencies, including SHIB, and provides opportunities for staking and farming.

5. How does Shiba Inu contribute to token burning?

Shiba Inu conducts token burns to reduce the total supply of SHIB tokens, which can increase the value of existing tokens. These burns are often performed by sending tokens to a “dead wallet” where they become inaccessible.

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