01 June 2023 14:05, UTC
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In May 2023, the Shiba Inu community permanently removed a total of 15,369,335,177 (15.36 bln) SHIB from circulation. This was achieved through 191 separate transactions in which the community made a collective effort to burn SHIB tokens. As a result, the burn rate increased by 370% compared to last month, when 3,269,676,832 (3.26 bln) SHIB were burnt in 125 separate transactions.
Blaze Token, a community-driven project launched on May 1, was the best SHIB burner of the month. The project permanently removed 11,557,310,052 (11.5 bln) SHIB from circulation through five separate transactions. On May 29, Blaze Token made the largest transaction of the month, sending 3,601,495,249 (3.60 bln) SHIB to a dead wallet. Blaze Token also burned 2,005,265,274 (2 bln) SHIB on May 2, 1,695,524,269 (1.69 bln) SHIB on May 8, 3,016,000,000 (3.01 bln) SHIB on May 15, and 1,238,951,893 (1.23 bln) SHIB on May 22.
MARSWAP, a recently launched token on the ShibaSwap DEX, ranked second on the “Top SHIB Burners” list of the month. On May 24, the project burned 1,350,604,128 (1.35 bln) SHIB through hundreds of separate transactions. A Coinbase-linked wallet, Coinbase 10, has also played a role in reducing the supply of SHIB. The wallet burned 200,583,666 (200.58 mln) SHIB in a single transaction on May 28th. At the time of writing, Shiba Inu is trading at $0.00000854.
Image: Coin Cloud
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