Hundreds of millions of Shiba Inu have been locked in dead wallets without a chance to be retrieved
to successfully burn millions of these meme coins, transferring them to unspendable wallets.
This time, the SHIB army has managed to get rid of almost 350 million Shiba Inu meme coins that have been locked out of circulation. More than half of that amount was burned in a single transfer.Over the last 24 hours, the community has successfully removed a total of 349,012,147 SHIB, taking 19 transfers to achieve that result. Burns took place almost every hour, often two or three SHIB chunks were burned hourly.
The largest transaction here helped burn more than half of the total amount - 233,632,193 Shiba Inu, around 14 hours ago. The goal of these burns is to remove as many SHIB from circulation as possible in order to reduce the supply that is circulating in the market. This is supposed to make SHIB a scarce asset and in theory, push its price up.The so-called dead wallets are in reality unspendable ones, meaning that tokens transferred there cannot be withdrawn or used for spending in any way.
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