Shiba Inu (SHIB) Burns 146 Million Tokens in Fight to Retain Top 10

Recent data from blockchain tracking platform Shibburn reveals that Shiba Inu
SHIBUSD
, a popular dog-themed meme coin, has burnt about 146 million tokens in its quest to retain its position in the top 10 cryptocurrencies by market capitalization.

SHIB token burns: Strategic move

Shibburn shows that Shiba Inu has burnt 146,270,727 tokens within the last 24 hours alone. This substantial reduction in token supply marks a strategic move by the SHIB community to enhance the scarcity of the meme coin and increase its value.

The majority of this burn occurred in a single transaction when 100,877,615 SHIB were intentionally sent to the dead wallet, thereby removing it from circulation. Following closely behind were transactions of 3,682,838 SHIB and 1,183,369 SHIB, constituting the second and third largest burns, respectively. Shiba Inu Burnt Tracker.
As a result, the total amount of tokens burnt from the initial supply now stands at 410,709,332,962,061.