Shiba Inu Sees A Whopping 48,000% Increase In SHIB Burn Rate


21 Nov 2023 1:00 PM

Despite SHIB’s tumbling price in the past seven days, Shiba Inu's burn rate has recorded a nearly 48,000% increase....

  • The Shiba Inu community has significantly increased its efforts to burn SHIB tokens, aiming to reduce the circulating supply and potentially impact the token's price.
  • The SHIB burn rate has spiked by nearly 48,000% in the last 24 hours, with over 290 million tokens burned in the past seven days.
  • The most notable burn transaction involved the transfer of 28.15 million SHIB tokens by an unknown address.
  • The total supply of SHIB tokens has been reduced by 410.66 trillion, leaving approximately 589.34 trillion coins remaining.
  • Despite the burn efforts, the price of Shiba Inu has been in a downturn, with a 7-day decline of over 1%.

The sentiment in the article is mixed. While the Shiba Inu community is determined to reduce the circulating supply through token burns, the price of Shiba Inu has been declining. There is hope for a rebound, but the article also suggests a possible further decline in price.

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You May Ask

What is the current burn rate of SHIB tokens?How many tokens have been burned in the past seven days?What was the most notable burn transaction and when did it occur?How much of the initial SHIB token supply has been removed through burns?What is the current price of Shiba Inu and how has it performed in the past week?

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