The diligent Shiba Inu (SHIB) community continues its mission to combat inflation by burning SHIB tokens, effectively removing them from circulation. A recent significant burn of 650 million SHIB tokens by an anonymous wallet has garnered attention and stands as the largest burn in over a month.
Despite a period of relative calm, the dedicated Shiba Inu (SHIB) community remains committed to their token-burning campaign, making periodic contributions to strengthen the deflationary trend. This ongoing effort involves transferring SHIB tokens to a dead or burn wallet, permanently eliminating them from the market.
An anonymous wallet address initiated a monumental SHIB burn transaction, marking a notable event in recent months. On April 15th, at 1:31 AM (UTC), the burn address received a staggering 650 million Shiba Inu tokens, valued at approximately $13,650 during the transfer.
This colossal burn surpasses the previous record set on March 9th, where 3.8 billion tokens were incinerated. Until now, the community had not witnessed burns of such magnitude.
The identity of the wallet responsible for this impressive burn remains a mystery. However, on-chain data indicates that it belongs to a long-term Shiba Inu investor who has been actively trading SHIB since August 2022.
Although the wallet’s transaction history involving the meme token is extensive, this 650 million burn marks its first burn transaction, leaving a remaining balance of 81 million SHIB.
According to the community-driven burn tracker Shibburn, the latest burn has brought the total incinerated SHIB amount to an astounding 410.725 trillion tokens. As a result, the total supply of Shiba Inu now stands at 589.274 trillion tokens, with 582.8 trillion currently in circulation.
While several community-driven initiatives have contributed to the burn campaign, recent burns have been primarily fueled by Shibarium, the layer-2 network built on the Ethereum blockchain.
In March, the last Shibarium-powered burn eliminated 13.4 billion tokens. Since then, Shibarium-driven burns have skyrocketed to an impressive 56 billion tokens. Although the burn process is currently manual, the development team is actively working on transitioning to an automated burn system.