The SHIB Army Has Removed 405 Million Shiba Inu Over Last 24 Hours

Nearly half a billion Shiba Inu have been locked up in dead wallets, substantially reducing the circulating supply.

Since last morning, the SHIB community has destroyed yet another large number of Shiba Inu, sending roughly half a billion meme coins to unspendable addresses throughout the network.

Several organizations and individual burners have moved a total of 405,282,493 meme tokens of the circulating supply to a few “inferno” wallets, according to Shibburn, a crypto tracking tool that uses data from etherscan.

This was done with the intention of making Shiba Inu slightly more scarce, with the possibility of a long-term price increase.

112,462,000 SHIB was the largest single transfer. It happened about 12 hours ago from the address 0x28a121e4732d7cc5972b16e48590103b2574f806

The recent establishment of the SHIB burn gateway was announced on Friday. Within two weeks of its introduction, shibaswap had eliminated an astonishing 25 billion Shiba Inu.

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