Mystery Wallet Burns 1.69 Billion Shiba Inu, Will It Result In Price Bump?
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An unidentified Shiba Inu wallet holder burnt about 1.69 billion SHIB in a single transaction. This burn event caused the overall SHIB burn rate to increase by 38,986.28%, exceeding yesterday’s burn rate of 1.34 million SHIB. SHIB burn events are critical to its price movement since they eliminate excess tokens in circulation and the 1.69 billion SHIB burn represents the third-largest burn event this week. However, the burn event did not significantly impact SHIB’s price, although it could improve its performance in the long term. SHIB Burn Rate Increasing This Week Shiba Inu experienced massive burn events this week from
The rise in the Shiba Inu burn rate has no doubt been one of the most notable developments in the community. At the start of the week, the burn rate rose over 7,000,000% after more than 8 billion tokens were burned in a 24-hour period. This trend has not slowed…
While Shiba Inu (SHIB) token appears to be getting rivaled by another currently hyped meme coin called PEPE, the latest update shows SHIB still has a strong community devoted to its growth. In the last 24 hours, the SHIB community continues to fulfill its burning commitment and surged SHIB’s burn…
Shiba Inu has seen a surge in burn activity, with the burn rate climbing by 3,194% in the last 24 hours. According to data from burn tracker Shibburn, over 521.6 million SHIB tokens were permanently removed from circulation during this period. This sudden and sharp rise in burn rate has…