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Shiba Inu Burn Rate Spikes 1,664% as Single Wallet Destroys 250M SHIB

Author: Content Editor
A new crypto project called Living The Dream (LTD) has contributed to the ongoing burn campaign of the Shiba Inu (SHIB) token by destroying 250 million SHIB tokens in a single transaction. The transaction was indexed by the burn tracker Shibburn, and the dollar equivalent of the tokens burned was estimated to be around $3,232. The identity of the user behind the transaction was not revealed, but data from Etherscan indicates that it was the LTD team. This is not the first time LTD has burned SHIB tokens, as they have previously destroyed 500 million SHIB tokens in two days. These continuous burns are part of their campaign named "Shiba Burn Series" and are expected to significantly reduce SHIB's circulating supply. Following LTD's burn, the burn rate of SHIB has surged by 1,664% in the past 24 hours, with more than 41% of the token's initial supply now destroyed. Shiba Inu currently has a max total supply of 589.27 trillion tokens, with a significant portion staked on ShibaSwap.

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