The Shiba Inu community burn initiative has become a mainstay in the meme coin’s ecosystem. The frequent SHIB burns are believed to be an integral part of the crypto token’s growth. As such, the number of SHIB tokens that were burned in 2023 has come under the radar, with there being a notable decline from the previous year.
Total Number Of Shiba Inu Tokens Burned In 2023
According to data from the burn tracking website Shibburn, over 76 billion SHIB tokens were burned in 2023. This figure represents an 8.33% decline in the yearly burn rate. In 2022, over 83 billion SHIB tokens were burned.
Therefore, the figure recorded in 2023 may be considered disappointing, especially since there were expectations, going into 2023, that the SHIB burns would increase exponentially with the help of Shibarium’s launch. It is, however, worth mentioning that the SHIB burned in 2023 would have been way lower if not for the layer-2 network.
Source: Shibburn
Further data from Shibburn shows that the monthly burns last year were relatively low until December, the same period Shibarium carried out its Shiba Inu burns. The layer-2 network executed four burns in December, all summing up to over 33.8 billion SHIB tokens burned
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Author: Scott Matherson
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