Shiba Inu Surpasses 20,000 Burn Transactions With 41.08% of Supply Burned

Shiba Inu has surpassed 20,000 burn transactions, according to the Shibburn website, which gives the total count as 20,696.

In all, 410,839,848,304,549 SHIB tokens worth $7,358,037,071 have been burned. This represents 41.08% of the initial SHIB supply. Shiba Inu had an initial supply of 1 quadrillion tokens at its launch.

Following thousands of burn transactions over the years, Shiba Inu’s total supply has shrunk to 589,160,151,695,451 SHIB, according to the Shibburn website.

In the last 24 hours, 1,591,370 SHIB were burned, adding up to 59,338,197 SHIB sent to dead wallets in the last seven days. A cumulative of 196,822,452 SHIB has been bought in the last 30 days. The 1,591,370 SHIB burned in the last 24 hours marks an 81.28% drop from the past day, reversing a rise from April 15.

Biggest SHIB burn of all time

While a total of 410,839,848,304,549 SHIB tokens burned remains notable in Shiba Inu’s burn push, a single transaction that contributed significantly to this figure cannot be overlooked.

In May 2021, Ethereum co-creator Vitalik Buterin burned 90% of his SHIB holdings, totaling around $7 billion at the time, after he was unwillingly gifted half of SHIB’s total supply. Over 410 trillion tokens were sent to a dead blockchain address in a single transaction, removing them from circulation. The remaining 10% was earmarked for charitable causes by the Ethereum co-creator.

According to analysts, 410 trillion Shiba Inu burned by Ethereum creator Vitalik Buterin remains among the biggest single crypto transactions of all time.

A number of transactions have a place in history, but none stand out compared to Buterin’s massive 410 trillion Shiba Inu burn if transactions to burn addresses are taken into consideration. The $7 billion burn by the ETH creator might also be among the biggest transactions of all time if this is considered.