According to the Shibburn Twitter account, more than 834 million SHIBs were taken out of circulation last week.
In the last 7 days, there have been a total of 834,804,461 $SHIB tokens burned and 82 transactions. #shib
NEWS CONTINUES BELOW— Shibburn (@shibburn) March 26, 2023
shared data According to the report, a total of 834,804,461 meme coins were removed from circulation in the last 7 days, and this burn took place in a total of 82 transactions.
In addition, 3,053,513 SHIBs were removed from circulation in a total of four transactions in the last 24 hours. Thanks to this incineration, the daily burn rate increased by 127%, according to the Shibburn website.
At press time, the meme coin is trading at $0.00001056 with a small decline in the last 24 hours.
Shibarium May Increase Meme Coin Burns
As we reported yesterday, after the Shibarium launch, 70% of the base charge will be used to buy back and burn the Shiba Inu, effectively reducing its supply and increasing its value.
Users can start burning from Tier 2 Shibarium when a certain amount of BONE ($25,000) accumulates in the incineration contract. As soon as this procedure starts, the accumulated BONE is delivered to Ethereum’s L1 where it is automatically exchanged for SHIB and burned again.
With this procedure, users will be able to access a specific portal on Shibarium’s website. Anyone can start one of these burns by simply selecting “Start burn”. To finish the process, they need to confirm a few actions to enable layer switching. Koinfinans.com As we have reported, SHIB tokens will be removed from circulation when the procedure is complete and this will be reflected in the total maximum supply.
According to the team, this framework may be subject to changes or revisions in the coming months as test environments provide more realistic scenarios.
You can check the price movements here.