The Shiba Inu community has garnered attention by removing a massive 5,677,307,518 (5.67 billion) SHIB stacks from circulation in the past seven days. The burning platforms leading the big burn realized with a few transactions are as follows: Blaze Token and CultPunks.
Blaze Token
Blaze Token, a newly launched token, made a name for itself in a short time by burning 3,700,789,543 (3.70 billion) meme coins in two separate transactions. The first burn of Blaze Token on May 3 was the SHIB burn of 2,005,265,274 (2 billion), which was estimated at $19,992. The project had another burn of 1,695,524,269 (1.69 billion) approximately 17 hours ago, making it the largest SHIB burner of May so far.
Mysterious Wallet
One of the biggest contributors to the burning was a mysterious wallet with an unknown identity. The wallet in question made a name for itself by burning 1,695,572,371 (1.69 billion) SHIB in a single transaction on May 5.
CultPunks
The third major contribution came from CultPunks, a newly launched NFT collection on Modulus Network. The project removed 246,743,138 (246.74M) SHIBs from circulation forever in a single transaction on May 3.
Meme Coin Burning in the Last 24 Hours
Despite all these great burning processes, the burning continues without slowing down. Shibburn.com data reveals that the meme coin community has destroyed 1,699,432,700 (1.69 Billion) SHIBs in the past 24 hours. This major burn increased the overall SHIB burn rate by 13150.01% compared to the last day. The biggest reason for this increase is the last meme coin burning of the Blaze Token, which we mentioned above.
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Source : the crypto basic