Shiba Inu (SHIB), 588.2 Million Burned in August..Robinhood and Coinbase Also Participate

▲ Shiba Inu (SHIB)

Shiba Inu (SHIB) burned 588,207,327 SHIB in August alone. Robinhood and Coinbase were also among the top burners.

According to the cryptocurrency specialized media The Crypto Basic on September 1 (local time), Shibburn reported that the total amount of Shiba Inu burned in August was 588,207,327 SHIB. The monthly burn rate decreased by 6.14%. The burn amount in July was 3.24 billion SHIB, at which time the monthly burn rate surged by 1,395%. In August, the burn volume significantly decreased again.

WoofSwap V3 burned the largest amount, sending 194,011,566 SHIB to the burn address across 17 transactions. An unidentified wallet ranked second by burning 107.39 million SHIB in a single transaction. Another wallet, 0x3f8, burned 40 million SHIB at once. Wallets 0x781 and 0x9c8 also eliminated over 59 million SHIB combined through 81 transactions.

Volumes related to major cryptocurrency exchange platforms also appeared in the top ranks. CEX.IO moved 61.41 million SHIB to the burn address across 5 transactions. Robinhood sent 39.04 million SHIB in 101 transactions. The Crypto Basic mentioned the possibility of this being related to user activity due to the high number of transactions. ShibLaunchpad burned 23.18 million SHIB through 28 transactions, and wallet 0xe501 eliminated approximately 23 million SHIB across 14 transactions.

Coinbase sent 17.28 million SHIB to the burn address across 11 transactions, securing the last spot on the top 10 list. Burning activity in early September has been relatively quiet. The recent 24-hour burn amount was 841,225 SHIB, worth approximately $4, and 45.98 million SHIB was burned over the past week.

[Article Key Summary]

-Shiba Inu burned a total of 588,207,327 SHIB in August, but the monthly burn rate decreased by 6.14%.

-WoofSwap V3 became the largest burner, burning 194,011,566 SHIB.

-Robinhood sent 39.04 million SHIB and Coinbase sent 17.28 million SHIB to the burn address, placing them in the top 10.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*