Coin Gabbar Token

<h2 id="header-0">As the year 2023 begins, the Shiba Inu community appears to be filled with energy and eagerness to surpass last year&#39;s burns.</h2><p>While daily burns of this popular meme token have been relatively low since the fall of last year, they were comparable to the high burns of 2022 during the first two days of 2023.</p><p>Here&#39;s how much SHIB has been destroyed in the previous two days, with the burn rate increasing dramatically.</p><h3 id="what-are-token-burns-about">What are token burns about?</h3><p>The so-called &#34;<a href="https://www.coingabbar.com/en/crypto-blogs-details/what-is-coin-or-token-burning-and-how-it-is-beneficial-for-cryptocurrencies" rel="noopener noreferrer nofollow">burning</a>&#34; of cryptocurrency refers to the complete removal of coins from the circulating supply. Communities attempt to make their valued coins more scarce by restricting the number of tokens that circulate in the market. This provides them with the possibility that the price of the asset they are burning may rise in the future.</p><p>Burning is very popular with meme currencies, particularly Shiba Inu and BabyDoge. Floki Inu has also announced the commencement of forthcoming large burns via their recently established NFT metaverse game Valhalla.</p><p>The Binance exchange also reduces its supply of BNB on a regular basis by burning those tokens, i.e. transferring them to wallets from which withdrawals are impossible. They&#39;re referred to as &#34;dead&#34; or &#34;unspendable&#34; wallets.</p><h4>Over 200 million tokens were removed, burn rate spiked</h4><p>According to Shibburn, a tracker of crypto burn transfers, the SHIB army has eliminated around 250 million <a href="https://www.coingabbar.com/en/crypto-currency/shiba-inu-shib-prices-usd" rel="noopener noreferrer nofollow">Shiba Inu</a> in the last two days. On January 1, 90,098,748 meme coins were sent to &#34;inferno&#34; wallets in nine transactions. So far on January 2, they have managed to remove a total of 159,411,895 SHIB from circulation, which took 13 transactions to dead wallets.</p><p>The majority of the latter quantity of SHIB was destroyed in a single transfer, with an anonymous address 0x0f10a3c90e73feaadd6d0d4bda302891160d0f24 burning a total of 147,941,583 meme coins. This most recent burn has increased the overall SHIB burn rate by 115.6%.</p><p><strong>As per reports, the SHIB army destroyed 83,347,071,504 Shiba Inu in total during the last year.</strong></p><p><strong>Read also: <a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow">Twitter Users Question Luke Dashjr’s Wallet Security Practice</a></strong></p>

Shiba Inu Burn Rate Increases as Community Burns Another Massive Chunk

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