The recent SHIB burn makes the Shib burn rate spikes 2436.34% in the last 24 hours as noted by Shibburn.com.
SHIB Burn Rate Spikes 2436.34%
The spike comes after the Shiba Inu community collectively sent 37.4 million SHIB to the burn wallet in the last 24 hours, as revealed in a tweet by Shibburn today.
Despite the SHIB’s total is not close to the end of the last year’s and at the beginning of this year, it is a significant increase to the total burn of 2.5 million SHIB the day before.
Detail of the transactions
the record reveals that over 16 million SHIB was sent to the dead wallet at 1:26 AM UTC. A check on Etherscan shows that the wallet no longer holds any SHIB but holds about 125 BONE.
The second transaction from a different wallet saw approximately 15 million SHIB sent to the burn wallet at 3:57 AM UTC. This address is left with only 0.01 SHIB per Etherscan data.
Read Also: The Shiba Inu’s Shibarium To Contribute To SHIB Burn. SHIB Burns Gets More Supports
The Shib burn has gotten a hand of support from various areas as stated in yesterday’s report posted by the Cryptolifedigital, Shibarium disclosed that it will also contribute to the SHIB burns while there has no date set for its launch.
At the moment, SHIB is trading spiked 5.11% in the last 24 hours, trading for $0.000008854 at press time, with a 549 trillion SHIB circulating supply.