A total of more than 630 million SHIBs were destroyed last week, with more than 50% of that amount burned in the last 24 hours.
The Shiba Inu burn rate has increased by more than 7,400% in the last 24 hours, leading to more than 369 million SHIBs being removed from circulation.
The intent of the burning program is to decrease the overall supply of tokenilitis, possibly increasing its scarcity and value; coinilitis price increased by 12% weekly.
Shibarium, Shiba Inuit's layer-2 scaling solution that launched in August, quickly gained traction with over 3.5 million transactions and 1.3 million blocks.
Popular memecoin Shiba Inu continues to witness a substantial amount of its circulating supply being destroyed.
According to data provided by Shibburn, the asset burn rate skyrocketed by more than 7,400% in the last 24 hours, meaning more than 369 million SHIB were sent to an address that no one could access. Total assets withdrawn from circulation last week exceeded 630 million.
