In September, the #ShibaInuCommunity removed more than 2.37 billion SHIB tokens from circulation as part of a burning campaign aimed at reducing the number of tokens in circulation and boosting their value.

Data from Shibburn Confirms Astonishing Numbers

According to statistics from #SHIBburn , a platform that tracks Shiba Inu ( #shiba⚡ ) burns, a total of 2,378,422,108 (2.37 billion) SHIB was burned in 131 different transactions throughout September. This month saw a significant increase in the burn rate, rising by 249% compared to August.

Dramatic Burn Rate Increase of 249%

With SHIB currently priced at $0.00001672, the value of the burned tokens is roughly $39,767. September brought a total burn rate increase of 249.36%, which is a substantial difference compared to August, when only 681 million SHIB were destroyed across six transactions.

Significant Token Burns in September

While the community contributed to the burning through 131 transactions, the most substantial impact came from a single transaction by a wallet linked to Binance. On September 26, this unknown user burned 1,872,037,807 (1.87 billion) SHIB in one operation, which at the time was valued at $35,643. This single transaction represented 78.7% of the total burn for the month.

Other notable burns included the destruction of 250 million #SHIB، on September 1, initiated by the Living The Dream (LTD) project as part of their Shib Burn Series campaign. Additionally, on September 16, an unknown wallet moved 25 million SHIB ($332) into Shiba Inu's official dead wallet.

The Community Aims to Boost SHIB's Price

The goal of this mass burning is to reduce the number of tokens in circulation and increase the value of Shiba Inu, which is currently trading at $0.00001672. In September, a total of 2.37 billion SHIB were burned, part of the community's long-term efforts to stabilize and grow the value of this #cryptocurrency .

October Starts Slowly: Daily Burn Rate Down by 92%

While September saw massive burning activity, October has started much more slowly. In the first few days of the month, only 2,941 SHIB tokens were burned, and a total of 2,302,941 SHIB were destroyed in three transactions, valued at $38.5. The daily burn rate dropped by 92.2%, meaning October might be a quieter month for Shiba Inu community activity compared to September.

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