Shiba Inu October Token Burn Update:1.46 Billion SHIB Tokens Eliminated

SHIB Surges 103% in Burning Activity as Community Rallies for Scarce Supply

In October 2023, the Shiba Inu Community actively reduced the monthly token burn rate, eliminating a total of 1.46 billion SHIB tokens.

The Shiba Inu Community took decisive action, permanently removing 1,461,135,923 (1.46 billion) SHIB tokens from circulation through 753 separate transactions over the past month.

This marks a 37.12% decrease in the burn rate compared to September 2023, when 2.32 billion SHIB tokens were incinerated via 426 distinct transactions.

Leading SHIB Token Burner of the Month

Shib Dream NFT, a project empowered by ShibCoOP, emerged as the standout SHIB token burner for the month. Within the final week of October, the Shib Dream NFT team actively destroyed 350 million SHIB tokens.

Their commitment to reducing the token supply is evident, and as they still hold 100 million SHIB tokens in their wallet, it signals more burns in the pipeline.

Related article: Shiba Inu Unveils SHIB Name Service on Shibarium

Trillions of SHIB Tokens in Motion

Amidst the ongoing token burn events, major Shiba Inu token holders continue to transfer trillions of SHIB tokens.

According to data from Whale Alert, a prominent blockchain tracking platform, a mysterious wallet recently transferred a staggering 4.47 trillion SHIB tokens, valued at $35.35 million, to another enigmatic wallet in a single transaction. This significant transaction occurred approximately 22 hours ago from the time of this report.

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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