In a recent tweet, Shiba Inu’s burn tracker handle shared an update on the latest figures of SHIB’s total supply as well as upcoming projects in the pipeline.
The total burnt from the initial supply and the total supply is 410 trillion, and 589 trillion respectively. Concerning SHIB burn, it said,
“We have been tracking burns that occur within verified burn addresses, but there are transactions that have been sent to the SHIB contract address that is also unrecoverable. This could be due to both intentional and unintentional reasons”, the tweet read.
Also, according to the Shib burner, it has been informed of additional transactions that were delivered to contracts with renounced ownership, which will be updated soon.
The official SHIB burn account advised against the approach of sending transactions to other contracts with ownership renounced and recommend using only verified null addresses to simplify the process.
Further, it also mentioned some “exciting Web3 projects” that would be integrated with the revamped Shibburn site. These include a marketplace, wallet, and a few other surprises, powered by Shib tokens.
Just a few days ago, data published by the Shibburn transaction tracker revealed that in the past seven days, the Shiba Inu community has successfully removed another substantial amount of SHIB from the circulating supply.
Over 1 billion SHIBs have been sent in total to dead wallets. Weekly burns are still fairly high, despite the fact that this is over 45.04% less than the week before. Community members took 1,642,854,789 SHIB during the previous week.
That said, Shiba Inu burns have gathered momentum, thanks to the transactions on the Shibarium beta called Puppynet, which was launched on March 11.
The Testnet Of Shiba Inu’s Scaling Solution Hit A New Milestone
Since the Shibarium testnet went live a few weeks ago, the burn rate of the SHIB token has increased by an astounding 10,000%.
Additionally, the number of daily transfers on Shiba Inu’s layer-2 scaling protocol Shibarium recently hit an all-time high.
According to information provided by Lucie Sasnikova, a well-known Shib member who goes under the Twitter name @LucieSHIB, the number of daily transactions recorded a peak of over 41,600
On the price front, the Shiba Inu price dropped by over 3% over the previous day. The well-known meme coin is currently trading at $0.00001084.