Massive amounts of Shiba Inu continue to vanish from the circulating supply due to the SHIB community’s collaborative efforts and the recent launch of the Shibarium testnet. This time, the quantity of SHIB burned in the last 24 hours equals the amount transferred to dead wallets in the previous week.

Shibburn reports that in the last 42 hours, 802,428,808 Shiba Inu had been removed from circulation in six transactions. This increased the burn rate by 2,080%. One of them involved a transfer of 794,858,822 SHIB to an “inferno” wallet.

Earlier last week, the SHIB community destroyed 834,804,461 SHIB in 82 transactions. These two add up to 1,642,854,789.

According to Shibburn, 410,391,857,902,711 Shiba Inu tokens have been destroyed, accounting for roughly half of the initial one-quadrillion supply. With the introduction of Shiba Inu in August 2020, its mysterious founder, Ryoshi, moved roughly half of the supply to Vitalik Buterin’s wallet.

Buterin burned most of this chunk and donated $1 billion in Shiba Inu to the Crypto Relief fund in India, which aids in the fight against the pandemic’s consequences. Following that, Buterin received $100 million in Shiba Inu from the contribution. Sandeep Nailwal, co-creator of Polygon, established the aforementioned fund.

He explained this partial “refund” to Buterin as a result of needing to follow Indian rules that place strict limits on programs that can collect donations from a single individual or organization. Buterin was then inspired to establish the “Balvi” fund. It works directly with initiatives that manufacture vaccinations, ventilators, and other such products and provides funds to these charity groups.

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This article was republished from azcoinnews.com

In a stunning turn of events, #Shiba Inu's Layer-2 blockchain solution, Shibarium, has experienced an extraordinary surge, recording a jaw-dropping 254% increase in new accounts activity over the last three days.According to Shibariumscan, the number of new accounts per day skyrocketed from 24 on Feb. 1 to an impressive 61 on Feb. 3, bringing the total account count for Shiba Inu's L2 to an impressive 63,162.Such spikes in network usage often act as precursors to significant fluctuations in the prices of associated cryptocurrencies.Source: ShibariumscanHowever, the Shiba Inu ecosystem adds an intriguing twist to the narrative. Unlike other blockchain networks where the native token typically takes center stage, Shibarium's primary cryptocurrency is not SHIB but BONE.Shiba Inu's #BONE BONE, serving as the token for gas tolls and validator stakes within the Shibarium ecosystem, may emerge as the dark horse benefiting from this surge in new accounts. While the spike may not guarantee Shiba Inu's overall success, it has the potential to bring positive momentum to BONE's market quotations.BONE to USD by CoinMarketCapInvestors and enthusiasts better closely monitor the performance of BONE in the coming days, as the increased interest in Shibarium could mark a pivotal moment for the lesser-known cryptocurrency.As the Shiba Inu ecosystem continues to evolve, it is clear that the spotlight is shifting, and BONE might be the token to watch as it rides the wave of Shibarium's recent activity surge.#Write2Earn #TrendingTopic #ShibariumScan