shiba
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📰 The Shiba Inu community witnesses an astonishing token burn amid falling prices
💥 A remarkable increase in the burn rate of Shiba Inu tokens
In an unprecedented 24-hour period, the Shiba Inu community experienced a massive burn of tokens, with approximately 13 million SHIB burned. However, the surprise was that the token price fell by more than 3% despite this significant event.
During the burn process, two main transfers stood out:
The first was 5 million SHIB
And the second was 7.5 million SHIB
These tokens were sent to unreachable wallets (i.e., they cannot be recovered).
Despite these figures, the price of SHIB dropped from $0.00001168 to $0.00001124, prompting the official team to issue a stern warning about counterfeit tokens.
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📊 The burn rate of Shiba Inu tokens accelerates
According to data from Shibburn, the burn rate increased by 12,833% compared to the previous day.
Community members sought to reduce the circulating supply by sending 13.09 million SHIB to burn addresses.
Highlights include:
Two main transactions constituted the largest share (5 million + 7.51 million SHIB)
The total tokens burned since 2021 reached 410.75 trillion SHIB
Remaining tokens in circulation currently: 584.53 trillion SHIB
Despite this large burn, the price drop indicates that simply reducing supply is not enough to support the price in the short term.
CoinMarketCap
