The Shiba Inu Community has taken a big step towards reducing the circulating supply of SHIB tokens by burning a staggering 814,901,863 (814.90M) SHIB in seven transactions within the last 24 hours.

The Shiba Inu community has burned 834 million SHIB tokens in a week. The article notes that the burn was initiated by the community in response to concerns about the token's high supply and inflationary pressure.

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Shiba Inu Community remains determined to reduce the supply of SHIB and create more value for their special token. Over the past 24 hours, the Shiba Inu Community-led burn initiatives collectively have removed a total of 27,613,608 (27.61M) SHIB from circulation forever via ten separate transactions.

Shiba Inu (SHIB) burn rate is up an enormous 8733.78% in the last 24 hours, according to the Shibburn website.

According to a recent on-chain data report from crypto analytics firm Santiment, over 24 trillion SHIB tokens have left a top crypto exchange into a personal wallet. 

As per the data provided by WhaleAlert, more than 24 trillion Shiba Inu coins (approx worth $272 million) have been moved from Crypto.com crypto exchange in multiple transactions over the past 24 hours. The biggest transaction recorded by the tracker has been of moving $45 million worth of 4.1 trillion SHIB tokens to an unknown wallet.

Discussions had emerged KoyoToken burning of Shiba Inu, as several proponents doubted reports that the recently-launched project had burnt that much SHIB.

The Shiba Inu Community has made a massive move by setting fire to a staggering 2,072,114,690 (2.07B) SHIB in the past week through 290 separate transactions.