Shiba Inu Burn Rate Increases by Over 106,000% in 24 Hours
The Shiba Inu ecosystem reports a surge in the SHIB burn rate, increasing by over 106,000% in the last 24 hours. This rise indicates heightened community engagement despite a decline in SHIB's price and market cap during the same timeframe.
Key Highlights
- SHIB burn rate increased by 106,040.49%
- Over 15.3 million SHIB tokens burnt in 24 hours
- Previous burn rate was at 6,519%
- Current SHIB price: $0.00001422, down 5.93%
- Market Cap: $8.38 billion, decreased by 5.90%
- Total supply burnt exceeds 410.7 trillion SHIB, circulating supply around 584.4 trillion
- Major burns initiated by individual wallets, with one burning over 15 million SHIB in a single transaction
Despite the significant burn activity, SHIB's price has not increased accordingly. The trading volume remains robust at $210.74 million, indicating ongoing interest in the token. Community efforts continue to focus on increasing burns and adoption.