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Shiba Inu reclaimed 1 billion weekly burn, the highest since July 18th

The cryptocurrency enthusiasts obsessed with the canine-themed crypto—Shiba Inu—have burned its supply of 1.21 billion within a week and more than 57.30 million in 24 hours. A tracking platform that records SHIB Burn has recently released the figures. The SHIB community of crypto traders has destroyed 1,214,431, 010 SHIB, which equates to 1.21B.

1.21B SHIB coins are worth $14,427, which was lost through only 121 transactions conducted over 7 days. According to the reports, the highest number of Shiba Inu tokens equating to 1B were destroyed on July 18t. However, the latest value has surpassed that count.

The last 24 hours have been huge for Shiba Inu investors

The last seven days did exceed a billion in count. But, in the past 24 hours, the coin has broken all its records by burning 57,304,085 SHIB tokens through only 13 transactions. The recently introduced ShibaBae Token has bagged the highest count of Shiba Inu burns, followed by close competition from SHIB Super Store by Travis Johnson and 1Cent token.

On August 27th, ShibaBae, a BEP20 token, was newly launched, which is completely dedicated to the burn mechanism of SHIB tokens. 1Cent organised its weekly Burn Event on August 22nd, Monday. Through this initiative organised by 1Cent, more than 40 million SHIB tokens were incinerated through a single yet powerful transaction.

Travis Johnson organised the burn event on August 28th through its SuperStore initiative, which permanently destroyed 46,064,765 SHIB tokens from a single circulation through a single significant transaction.