Shiba Inu’s Burn Rate Records Over 385% As Almost 74 million Shib Tokens Were Sent To Dead Wallet
The Shib burn rate records over 385% as Almost 74 million Shib tokens were destroyed within 24 hours.
Shiba Inu has been doing well over the past few days. The record gotten from the CoinMarketCap revealed that the coin is topping the list of the most trending coins followed by Ethereum.
On August 14th, the coin, Shiba Inu was reported to hit $0.000018 on August 14 after many weeks of trading below the $0.00001 mark while the burn rate according to the website in charge hit over 75%.
Surprisingly, the Shib burn has tremendously by 385%+ compared to the amount of Shib that was sent into the dead wallet. For instance, more than 64 million SHIB tokens have been destroyed within the last 24 hours as stated by Shibburn.com.
“In the past 24 hours, there have been a total of 64,506,471 SHIB tokens burned and 10 transactions. Visit shibburn.com to view the overall total of SHIB tokens burned, circulating supply, and more,” Shibburn earlier tweeted.
Over 6 million Shib Token Were Destroyed
According to another tweet by Shibburn, over 4 million Shib tokens were taken out of circulation in 4 transactions in the past 4 hours. The detail of the 4 transactions are as followed:
- A total of 1,861,986 SHIB tokens were burned in 1 transaction
- A total of 2,000,000 SHIB tokens were burned in 2 transactions
- A total of 444,884 SHIB tokens were burned in 1 transaction
Another massive burn was conducted which claimed over 6 million Shib tokens in two transactions:
- A total of 1,299,210 SHIB were Burned in 1 transaction
- A total of 4,854,572 SHIB tokens were burned in 1 transaction
Veteran Peter Brandt And David Gokhshtein Gave Their Thought On Shiba Inu
Shiba Inu (SHIB) has been doing well over time. Its performance in the market and its adoption by the various platform is an indication that the coin will soon go beyond being called a meme. As reported by Cryptolifedigital, the lead developer while replying to the Can you pet the Dog also reiterate in his statement that the people saying a derogatory statement will soon see that the coin is more than they thought.
Most importantly, Shiba Inu has been under the watch of some veteran Crypto traders and investors such as Peter Brandt and David Gokhshtein as they think the coin seems to have entered its bullish period.
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you’re a seasoned investor or just starting out, Cryptolifedigital’s analysis offers valuable insights into the world of cryptocurrency.
