306 million Shiba Inu token have been burned in the past 24 hours

Various Shiba Inu teams have burned over 306 million meme tokens in the previous 24 hours, with plans to burn another 500 million today.

In a recent tweet, the @Shibburn Twitter account said that 306.1 million SHIB tokens had been sent to "inferno" wallets to be permanently withdrawn from circulation in the last 24 hours.

Meanwhile, the number of hodlers in the community holding the second largest canine cryptocurrency and "Dogecoin killer" has reached a new all-time high.

Twitter account Shibburn tweeted that over the last 24 hours, a total of 306,104,347 SHIB had been delivered to dead wallets from which no one can withdraw or use them in any way, citing its own website that copies data on transactions connected to burning SHIB from Etherscan.

As a result, another large chunk of SHIB has been removed from the circulating supply, which had previously reached a startling one quadrillion.

To burn so many tokens, the community had to make 30 transfers to unspendable wallets. According to Shibburn, another 32,995 SHIB were cremated an hour later.