Shiba Inu Burn Rate Increased 200% by Community Cremation 44 Million SHIB
The self-proclaimed dogecoin killer shiba inu once again gained significant traction in the broader crypto market on Monday as the token’s burn rate marked a notable rise. Data released by Shibburn revealed a more than 200% increase in the burn rate of the meme coin in the last 24 hours and attracted great attention worldwide.
Meanwhile, the meme coin community itself appears to be responsible for the lion’s share of SHIB’s burning, consistent with the data disclosed by Shibburn.
SHIB Burn Report
According to data released by Shibburn, a platform that facilitates Shiba Inu cremation insights, the cremation rate has increased by 232.85% as of today, January 22. In addition, the total number of coins burned in the last 24 hours reached 46.60 million, arousing great curiosity among enthusiasts. crypto market fanatics.
Yet the Shiba crypto community itself has aided in the mass burning history of SHIB today through a series of two transactions to dead wallets. Regarding this, the community shifted 13.63 million SHIB to a dead wallet in the first transfer. Simultaneously, it moved a staggering figure of 30.46 million SHIB in another transaction.
This seems to have increased a lot of optimism among traders and investors as the community moves forward with the drive to increase SHIB tokenomics. However, market charts for the meme coin showed mixed views.
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Shina Inu Price Falls
As of writing, the Shiba Inu price chart has shown a 3.27% decline in the last 24 hours and is currently trading at $0.000009197. Additionally, market capitalization and trading volume also showed significant declines, falling by 3.27% and 21.39%, respectively.
Moreover, even the weekly chart indicates a 5.03% decline and a monthly decline of 14.84%. However, with the recent massive fire incident coming into play, prices are expected to rise soon.
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