Catwifhat (CWIF) Outpaces Shiba Inu (SHIB) in Terms of Relative Supply Burned

Many crypto enthusiasts consider Shiba Inu the most 'flammable' crypto project in the market. This is because the community has permanently removed over 410 trillion SHIB

Solana-based meme coin project Catwifhat (CWIF) has outpaced Shiba Inu (SHIB) in relative terms of its token supply burned.

Many crypto enthusiasts consider Shiba Inu the most ‘flammable’ crypto project in the market. This is because the community has permanently removed over 410 trillion SHIB tokens from its supply since its launch in August 2020.

However, Catwifhat has recently come to the forefront as the number-one Solana token extension burn project, having burned a greater percentage of its total supply than SHIB. This means that more of Catwifhat’s total tokens have been destroyed in relative terms.

CWIF Burn

Catfwifhat’s official X handle attached data from Grok 3 to back this claim. According to the data, CWIF launched in December 2023 with an initial max supply of 999.99 trillion CWIF. This comes after the project destroyed over 920 trillion tokens.

In addition, the Catwifhat team utilized Solana’s ‘Token-2022 program’ to implement a 4% auto-burn fee on every CWIF transaction. As a result, 4% of each transaction is deducted and sent to a dead wallet, permanently removing those tokens from circulation.

Through this process, CWIF has burned over 47 trillion tokens, which amounts to 60.9% of its initial supply. The remaining total supply is now 30.41 trillion, with 30.4 trillion tokens in active circulation.

Shiba Inu Burn

In contrast, Shiba Inu has burned only 41% of its total supply. The leading canine-themed token launched with a max supply of 1 quadrillion in August 2020 and has burned 410.74 trillion tokens so far.

This is 41% of Shiba Inu’s initial max supply. It now has a max supply of 589.55 trillion SHIB, with nearly 589.25 trillion in circulation.

While Shiba Inu has burned more tokens in absolute terms, boasting hundreds of trillions, CWIF outpaces it in terms of the percentage of supply destroyed.

At the time of writing, Shiba Inu is the 17th biggest cryptocurrency with a market cap of $7.91 billion. On the other hand, CWIF is valued at $2.78 million, making it the 1,541st token on CoinMarketCap.

Holders Of CWIF

As of May 7, over 13,170 blockchain addresses held CWIF tokens worth at least $10, while 1,846 wallets had holdings valued at $100 or more. In addition, 186 addresses held at least $1,000 in CWIF, and the 14,209 boast portfolios valued at $100 million. Interestingly, 2,219 blockchain addresses held CWIF tokens worth at least $1 billion.