Shiba Inu Monthly Burn Rate Sees a 6.33% Decrease, 1.36 Billion SHIB Tokens Removed

Shiba Inu's Token Burn Surge Propels Price Amid Market Rebound

In a proactive move, the Shiba Inu community took a significant step in reducing the circulating supply, torching over 1.36 billion SHIB tokens throughout November 2023.

Monthly Burn Report Published by has released its monthly burn report, revealing that community-led initiatives successfully eliminated 1,368,684,064 (1.36 billion) SHIB tokens over the past thirty days. This accomplishment was realized through a total of two hundred and seventy-three (273) separate transactions.

Furthermore, this marks a 6.33% decrease in the burn rate compared to October 2023, when the community burned 1,461,135,923 (1.46 billion) SHIB tokens through 753 individual transactions.

Top SHIB Burner: SHIB Dream NFT 

Taking the lead as the top SHIB burner of the month is SHIB Dream NFT. This community-driven initiative successfully torched 400,000,000 (400 million) SHIB tokens through four separate transactions in the past 30 days. 

Launched in October and powered by ShibCoOP, SHIB Dream NFT has, since its inception, removed 750,000,000 (750 million) SHIB tokens from circulation via seven distinct transactions.

Biggest SHIB Burn Transaction in the Last 24 Hours

In the past 24 hours, the Shiba Inu Community executed three separate transactions, reducing the massive supply of SHIB by 112,812,926 (112.81 million) tokens.

According to a previous report by Fxcryptonews, Shibarium, the L2 blockchain of the Shiba Inu ecosystem, achieved a remarkable milestone in transaction counts. Experiencing a surge in user engagement, the network added 748,230 transactions in the past 24 hours, bringing the total transaction count to an impressive 6,673,857 (6.67 million).

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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