Massive 76 Billion Shiba Inu Burned in 2023. What will be the future of Shiba in 2024.
Despite what appears to be a slow year for the Shiba Inu burn campaign, stats confirm the community burned over 76 billion tokens in 2023.
At Shiba Inu’s current price of $0.00001032, these tokens amount to $788,479.
Data from a chart presented by Shibburn suggests that December welcomed the most burns of 2023. This was due to the massive burns from Shibarium amid the impressive growth in transactions and fees.
January and February saw some of the lowest monthly burns. The Crypto Basic reported a single notable 17 million burn in January.
Burns picked up in March as Koyo Token emerged. The community saw the burn of over 602 million on March 13, 2023, with Koyo Token accounting for 591 million.
Koyo burned another 794 million tokens on March 28 amid a total of 814 million burns. On March 20, 2023, the community confirmed that Koyo had indeed burned 4.63 billion tokens since it jumped on the campaign.
May also saw a massive uptick in Shiba Inu burns. Nine days into May 2023, several projects incinerated 5.6 billion SHIB, with Blaze Token accounting for a massive 3.7 billion tokens.
Blaze burned 2 billion tokens at once on May 2. The project burned another 3 billion on May 15, bringing its cumulative burns to 6.7 billion tokens in two weeks.
Marswap, a Shibarium-based decentralized exchange, contributed to this uptick in August, burning 463 million tokens on August 12 to bring its cumulative burns to 3 billion SHIB.
As Shibarium recorded a surge in daily transactions and fees, the first-ever Shibarium burn came up on Dec. 5, involving 8.2 billion tokens.
For context, the 76.4 billion SHIB burned last year represents only 0.13% of Shiba Inu’s circulating supply of 581 trillion. If this pace continues, the community would only be able to burn 5.81 trillion, or 1% of the circulating supply, in the next 76 years.
