$SHIB
🚨 Over 15 Million SHIB Burnt in 24 Hours 🚨
After days of negligible burns, Shiba Inu’s token burn rate has jumped significantly in the past 24 hours. According to an update from the ecosystem, the burn rate shot up by 106,040.49%.
Data from Shibburn shows that over 15.3 million SHIB tokens were burned within that time. This beats the burn rate from earlier with a recorded 6,519% surge in one day. However, despite the latest spike, there has not been a noticeable change in the token’s price.
Based on general perception, the recent burn activity is mostly community-driven. Several transactions on the Shibburn tracker point to an organized effort by holders to reduce the token supply.
According to the latest update, one wallet (ending in f3ce5886e0) burned over 15 million SHIB in a single transaction. Another wallet (7fb81d3e43) carried out four separate burns, totaling 25 million SHIB in just two days.
These transactions had a big impact on the daily burn total. This indicates that some holders remain committed to reducing the token’s supply, possibly in the hope of influencing its price over time.
So far, more than 410.7 trillion SHIB tokens have been burned from the original supply. However, the circulating supply is still quite large, at about 584.4 trillion. Even so, steady burn efforts like these help to manage inflation and add a bit of scarcity to the token.
