Burn rate increased by 286% but there are fine details
SHIB recovers after a 5% drop
Data shared by the famous wallet tracker Shibburn revealed a huge increase in the burn rate over the past day. However, the amount of coins destroyed so far is not impressive at all.
Meanwhile, the price of the second-largest meme cryptocurrency, Shiba Inu, managed to attempt a recovery today after a 5% price drop yesterday.
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SHIB burn rate increased by 286% but there are fine details
According to a tweet posted by the aforementioned data source, the SHIB community successfully pushed the burn rate metric by 286.84% over the past day. This seems to be impressive growth. However, there’s a surprise here - only 269,722 SHIB were burned, a number less than a million coins worth $3.28.
However, the situation with weekly burns is much better as a total of 13,772,405 SHIB has been transferred to unspendable wallets over the past seven days. As for the burn rate reading, it is negative and constitutes a decrease of 97.82% this time.
SHIB hourly update: price: $0.00001213 (1 hour 0.18% ▲ | 24 hours -1.48% ▼ )
Market cap: $7,147,120,361 (-1.54% ▼)
Total supply: 589,247,920,323,965
Burned tokens
Last 24 hours: 269,722 (286.84% ▲)
Last 7 days: 13,772,405 (-97.82% ▼)
— Shibburn (@shibburn) August 6, 2025
SHIB recovers after a 5% drop
Over the past two days, the popular cryptocurrency, SHIB, has dropped by about 5%. Today, SHIB rose by 2.32%, but then faced a setback and declined. At the time of writing, the meme asset is trading at $0.00001213.
SHIB follows Bitcoin's price path as BTC dropped by 2.13%, down from $115,350 to $112,890. After the subsequent bounce, Bitcoin reached $114,000, where it is trading at the time of publication.
