Shiba Inu Burn Rate Soars by 37541%, 3.8 Billion SHIB Burned

Vignesh Karunanidhi

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.

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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. Notably, there has been a 37541% spike in the burn rate in the last 24 hours.

Shiba Inu
Source: Shibburn

Over 3.8 billion Shiba Inu burned

According to the details from Shibburn, the burn rate has soared by over 37541% in the last 24 hours. During this period, 3.82 billion SHIB were sent to dead wallets. One notable transaction that happened 21 hours ago sent 200 million SHIB to dead wallets.

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A transaction that happened two hours ago burned 3.6 billion Shiba Inu, marking it as one of the largest single burn transactions. If the community keeps maintaining this momentum in terms of burning, billions of SHIB could be taken out of circulation every day. According to CoinMarketCap data, Shiba Inu is trading at $0.000008763 with no major fluctuations in the last 24 hours.