#shib Massive 76 Billion Shiba Inu (SHIB) Burned in 2023: Details
Shiba Inu’s burning mechanism saw a record spike in December when around 36 billion assets were destroyed.
MASSIVE 76 BILLION SHIBA INU (SHIB) BURNED IN 2023: DETAILS
Massive 76 Billion Shiba Inu (SHIB) Burned in 2023: Details
Author: Dimitar Dzhondzhorov
Last Updated Jan 2, 2024 @ 12:45
Shiba Inu’s burning mechanism saw a record spike in December when around 36 billion assets were destroyed.
TL;DR
Shiba Inu Token Burns in 2023: Shiba Inu burned over 76 billion tokens in 2023, a decrease from the previous year, with December seeing the highest burn rate.
Shibarium’s Development: Shiba Inu’s Shibarium, a layer-2 blockchain solution, has shown significant progress, recording a high number of transactions and blocks.
Shiba Inu’s Recent Price Trends: The asset’s value has shown an uptrend, with a significant increase in the past month.
Shiba Inu’s Burn Rate Last Year
The popular memecoin project – Shiba Inu – witnessed over 76 billion tokens burned throughout 2023 (equaling more than $820,000 at current prices), representing an 8.33% decrease compared to 2022. The record month was December, when approximately 35 billion assets were destroyed.
Despite sounding quite substantial, the figure represents a tiny chunk of Shiba Inu’s tremendous circulating supply of nearly 590 trillion. The mechanism aims to reduce that supply, making SHIB more scarce and potentially valuable in time.
The asset’s price has been on an uptrend lately, spiking by 5% in the past 24 hours and around 30% on a monthly basis (per CoinGecko’s data).
