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SHIB Burn Rate Spikes 13,198% as Hundreds of Millions of Shiba Inu Get Removed


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Yuri Molchan

SHIB community strives to burn as many SHIB as they can on the last day of 2022, making burn rate skyrocket


Prominent burn tracker Shibburn has shared on its website that over the past 24 hours, the pace at which Shiba Inu meme tokens get burned by the community went high in the sky. It happened as several hundred million SHIB has been sent to unspendable SHIB wallets.

Meanwhile, the popular meme coin has reached a few important milestones related to holders and crypto trading.

SHIB burn rate skyrockets 13,000+ percent

The aforementioned crypto tracking platform shows that over the period of the previous 24 hours, the SHIB army succeeded in sending 302,506,518 meme coins. This pushed the burn rate up an astounding 13,198 percent.

This amount of SHIB burned within one day and night exceeds the majority of total daily lumps of SHIB burned this autumn and winter so far. Overall, the daily and therefore weekly amounts of burned Shiba Inu coins over the past four months have plunged greatly.

However, as reported by U.Today, this year, the tenacious SHIB army has managed to remove around a staggering 83 billion meme coins – this data was shared by SHIB Burn Tracker website.

This massive amount of SHIB is equal to approximately $1.74 million at an annual arithmetic average SHIB price of $0.000021. However, it constitutes merely 0.014 percent of the overall Shiba Inu token supply in circulation.

Image via Shibburn

SHIB rating soars by these metrics

As reported by WhaleStats wallet tracking platform that analyses data from several blockchains, including Ethereum, Binance Smart Chain, Polygon, etc, Shiba Inu token has entered several top ten lists related to the largest whales on Ethereum.

First of all, SHIB has so far managed to hold on the top ten list of assets held by the 100 largest wallets on this chain. Then, this meme coin has also emerged on the list of top ten coins with the highest trading volume and become one of the ten most purchased crypto assets, according to WhaleStats.

At the time of this writing, the largest hundred whales on Ethereum own $44,978,649 worth of SHIB. That is 2.03 percent of their comprised portfolio.


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