In a recent development, a total of 26,248,144 (26.24M) SHIB has been destroyed by the SHIB Army in the past 24 hours and following the SHIB Burn rate spiked over 299.43%.
Shiba Inu Community Burns 26.24 million SHIB
Shiba Inu community is reported to have initiated a burn that claimed 26.24 million SHIB in just five separate transactions and a single transaction out of the five claimed a whopping 10,364,304 SHIB.
SHIB Burn Rate Spikes 283.91%
The burn of over 10 million contributed to the prominent spike in SHIB burn rate as it spiked the burn volume. It is reported to cause a massive spike of 299.43%
The recent burns placed the total SHIB burn record to a whopping 410.38T SHIB representing about 41.03337% of the initial fixed SHIB supply of 1Quadrillion.
It is worth noting that Shiba Inu’s current supply occupies a whopping amount of over 589.61 trillion, having over 561.09 trillion in circulation while the rest is being staked by the whale investors in ShibaSwap.
It is worth noting that two of the community-led burn initiatives which include “SHIB Super Store” and “1Cent token” contributed significantly to the burn in October.