Shiba Inu (SHIB) is making headlines again as its overall burn rate surges to a new record high. According to data from Shibburn.com, Shiba Inu saw a gigantic 1,178,830,489 (1.17B) SHIB tokens burned over the past week. The biggest contributor of this burn was Koyo (KOY), a newly launched token on the ShibaSwapDEX. On the 9th of April, the token burned a whopping 1,104,224,812 (1.10B) SHIB tokens in a single transaction, making it the top contributor of the week.

This isn't the first time Koyo has made a significant contribution to the Shiba Inu burning campaign. The token has already set a record of burning 924,150,949 (924.15M) SHIB tokens in a single transaction on the 17th of March. Since the project started, Koyo has burn a total of 7,263,287,292 (7.26B) SHIB tokens across multiple transactions.

The impact of these burns is obvious with the overall SHIB burn rate skyrocketing by more than 2,169653.23% compared to the previous day. Koyo’s Creator and Team, Kintato, expect the SHIB burning to continue as the project targets to reach a billion-dollar market cap and take Shiba Inu to a price of $0.01.

Right now, Shiba Inu is trading at a price of $0.00001095, up 0.32% over the last day. The 24-hours trading volume for SHIB stands at $123,293,841 ($123.29B). This data paints a picture of the potential effect of Koyo’s burns, and all the other contributors, in stabilizing the SHIB network, and creating a steady incline in its price.

Ultimately, Koyo’s contribution to Shiba Inu burning campaign stands testament to Kintato’s, and the project’s, mission of ensuring SHIB to become the most popular and safest cryptocurrency in the world.



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