Shiba Inu Burn Rate Spikes by 2300%, 82 Million SHIB Burned
The Shiba Inu Burn initiative has been one of the most significant developments in the meme coin ecology. With over 549,063,278,876,302 SHIB in circulation, the overall goal is to restrict supply, create scarcity, and ultimately force a price increase. Positively, February started out with respectable burn figures. Shiba Inu burn rate jumped by 10,000% this month as well. The burn rate, like its price, is nevertheless well known for its volatility. Also read: Elon Musk’s Twitter Lays off 50 Employees Citing Cost Cuts Despite the slumping burn rates over the last few days, the burn rate has spiked by 2353.4% in the last 24 hours. Source: Shibburn 82.85 million SHIB sent to dead wallets According to the details from Shibburn, the burn rate has skyrocketed in the last 24 hours, with 82.8 million SHIB sent to dead wallets. The majority of the burns happened in millions in over eight transactions. One notable transaction was worth a whopping 63.8 million, which occurre...