In July 2023, the Shiba Inu community burned over 2.09 billion SHIB tokens, representing a 27% increase in monthly burn rate. The burns were conducted through 412 separate transactions, with Akai Token emerging as the top SHIB burner of the month. In addition, a mysterious wallet and a dormant wallet also contributed to reducing the SHIB supply. The intense burn activity has caused the price of SHIB to appreciate by 9.6% in the past month, making it the 14th biggest cryptocurrency globally by market capitalization.
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Shiba Inu Community Burns Over 2 Billion SHIB in July 2023, Monthly Burn Rate Jumps 27%
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