Shiba Inu Weekly Burn Update: 584 Million SHIB Burned

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

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 millions of SHIB being burned daily.

According to the latest details from Shibburn’s Twitter account, the burn numbers have gone up to 584,094,053 in the last seven days.

Shiba Inu burn rate falls to half a billion

Details from the tweet reveal that 584,094,053 SHIB were sent to dead wallets in the last seven days. The burn activity happened over 77 transactions. The burn rate has considerably dropped by half as compared to last week where almost a billion SHIB were burned.

Also read: Shiba Inu: 85% of SHIB Holders Are in Loss

According to the latest data from Shibburn, the SHIB burn rate has dropped by 59% in the last 24 hours. Only 22 million SHIB were sent to dead wallets during this period.

According to CoinMarketCap data, SHIB is trading at $0.000007888 with a 1% gain in value over the last 24 hours.