Shibarium's 5th SHIB Burn: Shiba Inu's Layer 2 Network Surpasses 40 Billion in Total Burns

Explore the latest development in Shiba Inu's Layer 2 network, Shibarium, with its 5th SHIB burn disposing of approximately 9.35 billion SHIB.

Learn about the total SHIB burned, the shift to automatic burns, and current SHIB supply dynamics in this detailed update.

Shiba Inu's Shibarium Completes Its 5th Fee Burn, Disposing of Approximately 9.35 Billion SHIB

The Shiba Inu (SHIB) Layer 2 blockchain, Shibarium, has completed its 5th SHIB burn, disposing of 9,351,444,446 SHIB (approximately 9.351 billion SHIB). This event is a part of the regular SHIB burn process implemented on Shibarium.

SHIB burn involves using a portion of the cryptocurrency BONE, collected from on-chain transactions on Shibarium, for the "buyback & burn" of SHIB. Currently, these SHIB burns are conducted manually at regular intervals.

The latest SHIB burn, also the first of 2024, involved transferring SHIB to a disposal wallet, a transaction executed at 20:29 PM (UTC) on January 9, 2024. Details of this transaction were reported by the Shibburn account, known for disseminating SHIB burn-related information.

Shibarium's SHIB Burns Total Approximately 43.2 Billion SHIB

With the latest SHIB burn, the total number of SHIB disposed of in Shibarium-related burns is approximately 43.2 billion SHIB. As of the time of writing this article, the total SHIB burned, which stands at approximately 43,218,902,088 SHIB, is valued at around 63.18 million yen.

The breakdown of SHIB burned in each session is as follows:

It has been previously reported that Shibarium's SHIB burns will transition from manual to automatic burning around January 2024.

The total amount of SHIB burned to date, along with the current circulating supply, can be verified at "shibburn.com". As of the time this article was written, the following figures are reported:

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