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Shiba Inu Team Burns 33.8B SHIB Tokens In 18 Days; What To Know

Shiba Inu Team Sends 8.47B Tokens To Dead Wallet

As part of the recent Shibarium-powered burns, the Shiba Inu team sent 8.47 billion SHIB tokens, worth about $90,307, to dead wallets. This event is the fourth in the series of token burns generated from Shibarium gas fees.

Meanwhile, Shibburn, a well-known Shiba Inu burn watcher, confirmed the transaction, and Etherscan data showed that the burn happened on December 22 at 10:51:35 PM +UTC.

Rapid Succession of Burn Events

It’s important to note that this fourth burn event happened 24 hours after the Shiba Inu team completed the one. Hence, data shows that the Shiba Inu team has burned over 17M SHIB tokens in less than 24 hours.

As a result, Shiba Inu’s intraday burn rate peaked at 67,324%, per a recent Shibburn tweet. Over the last week, 25.7B SHIB tokens have been taken out of circulation.

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Over 33.8B SHIB Tokens Withdrawn From Circulation In 18 Days

Earlier this month, the highly anticipated Shibarium-powered burn began by the Shiba Inu team. The team sent 8.24 billion SHIB to dead wallets in the first event. The next burn event happened on December 16, when the team removed 8.61 billion SHIB tokens from circulation.

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Then, the Shiba Inu team sent an extra 17 billion SHIB tokens to the non-recoverable wallet in the most recent event on December 22. So, the Shibarium team has burned over 33.8 billion SHIB tokens within the last 18 days.

Estonian Exchange Adds Shiba Inu’s LEASH To Its Crypto Offerings

Meanwhile, PointPay, a crypto exchange and financial institution based in Estonia, wants to include another token within the Shiba Inu ecosystem on its platform. It is important to note that the firm did not specify when and how LEASH will be officially listed.

Nevertheless, the planned listing of LEASH on PointPay will massively enhance the token’s liquidity.

BONE Token Listed By PointPay

Seven days ago, PointPay listed Bone ShibaSwap (BONE), the Shibarium governance token. However, it had hinted about this listing four days earlier. It’s still unclear if PointPay will follow the same plan for the upcoming LEASH listing.

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PointPay was created in 2018 to help the unbanked access crypto-banking services. The trading site has 3 million active users from 200 countries. PointPay provides blockchain services, including crypto hard wallets and a peer-to-peer platform, among other services.

Massive Adoption Of LEASH Token

Several crypto exchanges have expressed interest in listing LEASH this year, as they have shown interest in other Shiba Inu ecosystem tokens. In September, LEASH was listed on the GroveX exchange in Australia, which massively boosted its liquidity.

Other crypto platforms that have listed LEASH this year include Crypto.com, Bitrue, StealthEx, and XT.com. At the time of writing, LEASH trades at $327, down 0.1% in the last 24 hours.


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Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

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