Shiba Inu, the second largest meme coin, has established itself as a prominent presence in the cryptocurrency world. The team behind SHIB has consistently demonstrated their commitment to its development, as evidenced by initiatives like the Shiba Inu Burn program.
The Shiba Inu burn rate has gained a reputation for its fluctuating nature. Some days witness substantial increases, while others see a decline. Despite this variability, the burn rate has remained relatively steady in recent days, with billions of SHIB tokens being burned daily.
Now, according to the latest details from Shibburn, billions of SHIB were burned by the Shiba Inu army for several consecutive weeks.
HOURLY SHIB UPDATE$SHIB Price: $0.00000863 (1hr 0.52% ▲ | 24hr 1.40% ▲ )— Shibburn (@shibburn) June 3, 2023
Market Cap: $5,081,658,274 (1.21% ▲)
Total Supply: 589,351,177,085,336
Past 24Hrs: 159,205,486 (420.59% ▲)
Past 7 Days: 4,060,596,531 (-40.16% ▼)
Over 4 billion SHIB burned over the past seven days
Shibburn data shows that billions of SHIB were sent to dead wallets over the last seven days. According to the data, over 4 billion SHIB were burned during this period. The data also reveals that during the course of the last 24 hours, 122,471,730 SHIB were sent to dead wallets. The burn rate has shot up by 1254% during this period.
There has been an evident rise in the burn rate among the Shiba Inu army. Just on May 29, over 3.8 billion SHIB burns were recorded. It also pushed the burn rate by over 37541%. Nevertheless, a steady pace of SHIB burn activity is essential to achieving the final goal of the burn initiative.