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.
Read Also: Whale Purchases A Whopping 205.81 Billion SHIB Making The Total Whales’ Holding To Be 2.83 Trillion
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.
In a recent tweet, Shibburn reported that the Shiba Inu community incinerated a total of 881,736,643 (881.73M) SHIB in October. The massive burn was made in a total of 176 transactions.
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.