Shiba Inu Burn Rate Surges 3,194% with Over 521 Million Tokens Burned
Shiba Inu has experienced a significant increase in burn activity, with the burn rate rising by 3,194% in the last 24 hours. Over 521.6 million SHIB tokens were removed from circulation, driven by large transactions from major wallets.
Key Burn Activity Details
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<li One wallet starting with "0xdb6" contributed over 500 million SHIB through multiple transactions.
<li Largest single burn reached 310,744,788 SHIB.
<li Other wallets like "0x28be" and "0x6176" also sent SHIB to various burn addresses.
<li Collective efforts led to a total burn count exceeding 521 million SHIB.
Despite this surge, SHIB's circulating supply remains high at over 589 trillion tokens, making it challenging for price appreciation. The current trading price is $0.00001192, down by 1.7% in the last 24 hours.
A community member suggested that lead developer Shytoshi Kusama may have upcoming plans that could influence SHIB's price positively.