Shiba Inu Burn Rate Soars by 6936%, 341 million SHIB Burned

Vignesh Karunanidhi
Shiba Inu Burn Rate Goes Parabolic, Surges 5600%
Source: MARCA

Shiba Inu, a meme coin that holds a significant position in the cryptocurrency realm, has become well-known. The team responsible for SHIB has shown dedication to its growth through various endeavors, including the implementation of the Shiba Inu Burn program.

The burn rate associated with Shiba Inu has acquired a reputation for its fluctuating pattern. Certain days witness notable increases, while others experience a decline. Notwithstanding this variability, the burn rate is used to maintain consistency. However, in recent times, the burn rate has not been that impressive.

Also read: Bitcoin Breaches $30,000, Surges By 11%

Setting the record straight, the burn rate has spiked in the last 24 hours. According to data from Shibburn, the burn rate has soared by 6936% during this period.

Source: Shibburn

Shiba Inu burn numbers touch millions

Shibburn data shows that 341,504,320 SHIB has been sent to dead wallets in the last 24 hours. The biggest transaction occurred 20 hours ago in a single transaction. 252,873,213 SHIB were burned in that single transaction, followed by 84 million SHIB in a transaction 14 hours ago.

The four-digit rise in the burn rate has provided the SHIB community with relief from the slumping burn rate over the past few weeks. The surge in burn rate comes at a time when Shiba Inu is performing well, with over 10% gains in the last 24 hours.