Shiba Inu (SHIB) Weekly Burn Update: Drops from Billions to Millions

Vignesh Karunanidhi
Shiba Inu Burn Rate Spikes By 400% Amid Positive Price Trajectory
Source: Analytics Insight

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.

According to the latest details from Shibburn’s Twitter account, the burn rate has plummeted to millions in the last seven days.

Shiba Inu burn rate drops to millions

Details from the tweet reveal that only 282 million SHIB were sent to dead wallets in the last seven days. The burn activity happened over 22 transactions. The burn rate is considerably lower as compared to certain weeks when billions of SHIB were burned.

The burn rate has also dropped over the last 24 hours by 95.34%. Only 11.4 million SHIB were sent to dead wallets during this period. The numbers from the past seven days are not that impressive, as only millions were burned.

According to CoinMarketCap data, Shiba Inu is trading at $0.00000663 at press time. SHIB is up by 2% during this period.