- Shiba Army burnt over 250 million SHIB tokens in the last 24-hours.
- Two newly emerged tokens 1Cent and ScareCrow contributed the largest share in the last 24-hour burning.
- Additionally, Shiboshi is also responsible for burning 3.76M SHIB through two different transactions.
Shibburn.com recently revealed a report on community-led burning initiatives and developer-built burning mechanisms. According to the report, over 250 million SHIB tokens have been burned through 11 separate transactions.
Among the Shiba Army, two newly emerged tokens 1Cent and ScareCrow (SHIB Protector), are the largest share and appeared to be the top SHIB burners for the last 24-hours.
In detail, 1Cent is a newly emerged token supporting SHIB burn. The project claimed they sent 145,686,435 (145.68M) SHIB to the dead wallet in one large transaction. To sum up, 1Cent has taken out a whopping 1,311,802,045 (1.31B) SHIB from circulation within one month and four days.
Likewise, ScareCrow is another newly emerged token using a unique auto-burn feature. The project burned 104,563,610 (104.56M) through four separate transactions, according to Shibburn.com.
This unique auto-burning mechanism sent over two billion-plus SHIB to the dead wallet within four weeks. Besides that, ScareCrow used the taxed amount to buy more SHIB to burn whenever someone acquires or sells tokens.
Similarly, the renamed Shiboshi – a developer-built SHIB burning mechanism – is also held responsible for burning 3,765,784 (3.76M) SHIB through 2 separate transactions.
At the time of writing, the Shiba Inu is trading at the price of $0.00002322, down by 1.15% over the last day. The 24-hour trading volume for the popular dog-themed cryptocurrency surged over 2.51% compared to the previous day and currently stands over $730 million.
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