- Shiba Inu (SHIB) experiences a staggering 47,872% increase in its burn rate, sending 28,129,380 SHIB to dead wallets.
- Despite the significant burn rate spike and other positive metrics, SHIB’s price has not seen a corresponding increase.
Shiba Inu (SHIB) has once again seized the spotlight with a remarkable surge in its burn rate, as data from Shibburn reveals a staggering 47,872% increase. In just one day, the meme coin has sent a total of 28,129,380 SHIB tokens to inactive wallets. This surge in burn rate highlights the strong commitment of the Shiba Inu community to the protocol’s deflationary agenda.
With this substantial jump in burn rate, the cumulative number of SHIB tokens burnt since the launch of the deflationary campaign has reached an impressive 410,645,226,894,991 SHIB. As a result, the circulating supply now stands at 580,404,295,237,505 SHIB.
The major contributor to this recent SHIB burn is the wallet address “0x811b…1954f,” responsible for incinerating a total of 27,125,275 SHIB. At the current market price of $0.000008364, this amounts to $226.87.
Shibarium’s Upcoming Milestone
This burn rate surge coincides with a significant milestone for Shibarium, which is on the verge of reaching a total of 1,800,000 blocks, with 1,728,124 blocks already created. These historic metrics and milestones set Shiba Inu apart from other projects in the crypto space.
However, it’s worth noting that SHIB’s price has not moved in sync with these positive developments. Despite the burn rate surge and Shibarium’s achievements, SHIB is currently trading at $0.000008364, down by 3% in the last 24 hours. This discrepancy suggests that the market may not have fully incorporated the impact of the burn rate surge and the developments in Shibarium.
With performance metrics reaching new heights, the crypto community anticipates a potential significant turnaround in SHIB’s price in the near future.
