Shiba Inu burn rate has increased as billions of SHIBs continue to be retired each week
According to figures provided by crypto tracker Shibburn, after recent SHIB burns, the burn rate has increased a bit. In the meantime, the SHIB army has burned several billion SHIBs for several consecutive weeks already.
The Shiba Inu price is currently in the green zone, showing a slight increase.
Billions of SHIBs destroyed in seven days
A recent tweet from Shibburn shows that in the past seven days the SHIB Army has burned down a total of 4,060,596,531 Shiba Inu. This is not the first time in a month that they have burned several billion SHIBs. On May 29, the weekly burn included 2,909,693,938 SHIB. At least one or two billion Shiba Inus have been destroyed (i.e. excluded from circulating supply) every week for the past four weeks.
As for daily burns, in the last 24 hours, 159,205,486 SHIBs were burned, increasing the burn rate by 421%.
SHIB TIMETABLE UPDATE$SHIB Price: $0.00000863 (1h 0.52% ▲ | 24h 1.40% ▲ )
Market cap: $5,081,658,274 (1.21% ▲)
Total supply: 589,351,177,085,336BURNED TOKENS
Last 24 hours: 159,205,486 (420.59% ▲)
Last 7 days: 4,060,596,531 (-40.16% ▼)— Shibburn (@shibburn) June 3, 2023
A total of 182,528,847 SHIBs were transferred to dead-end addresses yesterday with 151,946,848 SHIBs moved in a single transfer. The burn rate was up 1,222%.
In total, in May, the Shiba Inu community managed to get rid of 15,369,335,177 SHIB parts. Yet neither the regular burns nor the recent launch of Shibarium beta Puppynet have had a significant impact on the price of SHIB.
Whales catch 100 billion SHIB in days
As U.Today reported earlier, based on data from IntoTheBlock, this week large crypto holders, widely known as whales in the crypto community, acquired a staggering $100 billion. Shiba Inu parts.
Still, those addresses are likely to include those tied to crypto exchanges, which likely means whales could be gearing up to sell their meme coins when the opportunity arises, putting selling pressure on the second-largest coin. SHIB meme.