Massive Shiba Inu Burn Destroys 450 Million SHIB As Burns See Renewed Interest

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Another huge Shiba Inu burn took place over the weekend, destroying over 450 million SHIB as July continues to see an uptick in SHIB burns.

Worth $5132 at the time of the burn when converted via the Shiba Inu price, the burn destroyed 452,166,778 SHIB. It cost just 0.0011 ETH ($1.77) in Ethereum gas fees. Nobody has come forward to claim this massive burn so far.

With Shiba Inu burning 70 billion SHIB in the first half of 2022, here’s the latest on Shiba Inu burns.

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450 Million SHIB Destroyed

With the latest Shiba Inu burn of just over $5000 in SHIB, the July burn total continues to rise. SHIB holders hope to see the burn rate return to the level of April and May 2022.

Across July, some 2.6 billion SHIB has already been destroyed, with two weeks still to go. With an average of 155 million SHIB burned each day, SHIB could burn 4.6 billion SHIB this month.

4.5 billion SHIB was burned in June across 400 transactions.

The Shiba Inu Burn Portal is again starting to distribute Ryoshis Vision rewards (albeit slowly) after the burn reward delay. Holders may hope that further users will now return to the burn portal functionality. Indeed, this 452 million SHIB burn used the burn portal.

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Shytoshi Kusama Comments On SHIB Burns

The latest burn comes as Shiba Inu project lead Shytoshi Kusama made a tweet about “massive burns”. In reply to one holder’s comment on burns, Shytoshi said: “Massive burns will require a true community effort and we are working towards it on many levels.”

"Many levels” could refer to plans for the Shiba Inu metaverse and Shibarium Layer-2 to feature SHIB burn functionality.

While divisive among the Shiba Inu team, some of which view burning as a waste of time and money, the community remains vigilant in its push for more official project burns.