🔥 $SHIB Burn Rate Explodes 11,899% as Crypto Market Soars 🚀
Massive Token Destruction Follows Bitcoin’s Record-Breaking Rally
🔥 SHIB Burns Surge to New Highs
The Shiba Inu ecosystem has witnessed a dramatic spike in SHIB token burns, with the burn rate soaring an astonishing 11,899% in just 24 hours. A total of 28.6 million SHIB tokens were permanently removed from circulation through three large transactions carried out by anonymous whales.
📉 Over 1 Billion SHIB Burned This Week
According to Shiba Inu’s community updates, a staggering 1,095,269,361 SHIB tokens have been burned over the past week alone. These burns were conducted through the official SHIB burn portal, marking a consistent effort to reduce the circulating supply and potentially enhance the token’s value.
Recent burns include:
🔸 15.1M SHIB (May 21)
🔸 14.9M SHIB (May 19)
Additionally, 2.49M SHIB and 115.52 BONE have been collected for upcoming burns, fueled by transaction fees on the Shibarium network.
📈 Bitcoin’s ATH Ignites Market Momentum
The massive SHIB burn activity coincides with a broader crypto market surge, led by Bitcoin’s new all-time high of $111,861 on May 21. The previous record of $109,356 (Jan. 20) was smashed thanks to:
🔹 $329M inflow into spot Bitcoin ETFs
🔹 The U.S. Senate passing a key stablecoin regulation bill
These bullish catalysts have reignited investor confidence, propelling altcoins like SHIB into the spotlight.
💹 Current Market Snapshot
🔸 Bitcoin: $110,484
🔸 SHIB: +3.16% (24h gain)
As SHIB’s deflationary efforts continue and the crypto market rides high, many are watching closely to see whether this momentum sparks the next leg up.
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