Shiba Inu Starts Week With a Blast As 3B Shib Burned at Once
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Shiba Inu Burn Rate up 23,420% as Blaze Token Burns 3B+ SHIB at Once.
The latest burn transaction brings Blaze Token’s cumulative burns to 6.7 billion Shiba Inu in just two weeks.
Blaze Token, a recently-launched project within the Shiba Inu (SHIB) community, has burned over 3 billion Shiba Inu tokens in a single transaction, raising the 24-hour burn rate to 23,420%. The latest burn exercise brings the project’s cumulative burns to 6.7 billion SHIB in just two weeks since it jumped on the burn campaign.
🔥BURN ANNOUNCEMENT 🔥$SHIB BURN 3,016,000,000 BILLION 🚀🚀🚀$BLZE BURN 1,422,000,000 BILLION 🚀🚀🚀
TOTAL TO DATE $SHIB BURN
🔥 6,716,000,000 BILLION 🔥
TOTAL TO DATE $BLZE BURN
🔥 7,884,000,000 BILLION 🔥
+400% From Launch
— Blaze Token (@blaze_token) May 15, 2023
Data from Shibburn, a community-driven Shiba Inu burn tracker, shows that the transaction occurred today at 15:56 (UTC) and involved exactly 3,016,073,367 (3.016 billion) SHIB. This represents the largest single Shiba Inu burn transaction carried out throughout this year.
Notably, this is the third Shiba Inu burn exercise the Blaze Token team carried out since they started their contributions to the initiative on May 2. As previously reported by The Crypto Basic, the address belonging to the Blaze Token project incinerated over 2 billion SHIB at once on May 2.
Its second burn occurred five days later and involved 1.69 billion Shiba Inu. This transaction contributed massively to the cumulative SHIB burn for the past week, which stood at 1.74 billion tokens. The latest transaction is Blaze Token’s third transaction and represents the largest one so far.
The team behind Blaze Token claims that they are on a mission to “burn trillions of SHIB” through weekly burn transactions. Notably, the project collects a 10% fee for buy transactions and a 12% fee for sell transactions. These fees are then used to burn SHIB and BLZE, with 40.9% going into Shiba Inu burns.