According to cryptocurrency tracking service Shibburn, in the past 24 hours, the Shiba Inu community handled a large amount of meme coins, resulting in a four-digit increase in the burn rate, but the SHIB price did not rise significantly.
Since yesterday morning, the SHIB burn rate has increased by over 5785%.
Due to multiple transfers, 3,244,007 SHIB coins have been removed from circulation, with the two largest burn transfers being 1,263,583 and 1,000,000 SHIB sent to a dead wallet.
In the past week, the total SHIB burn was about 20 times the 24-hour burn amount, reaching 63,327,612, but the burn rate decreased by 6.81% compared to the previous week.
On January 21, the price of Shiba Inu tokens first rose 7.71% to a daily high of $0.00002126, then fell 3.85% to $0.00002043, with its movement correlated to Bitcoin.
On that day, BTC rose over 6% to $107,163 before falling 2.11% to $104,900.
Affected by the proximity of Trump's inauguration, Bitcoin rose to a new high of $109,114 on Monday, the highest since December 16.