1498% Increase: Boom Coin Burn Rate Explosion!

The burn rate has increased significantly over the past 24 hours, according to data provided by the Shibburn website, which tracks all burn transactions of SHIB, the second largest meme coin. Most likely the growth was due to this factor.

SHIB burn rate increased by approximately 1500%

According to the platform that tracks the aforementioned SHIB incineration, in the last 24 hours shiba inu The burning rate of meme coins has increased by an astonishing 1.498%. A total of 45,165,582 SHIBs were burned.

The amount of SHIB burned just the day before was 2,833,917. In the last 24 hours, almost all 45.1 million tokens have been removed from circulation and locked in a dead-unused wallet in a single mysterious transfer (37,843,644 Shiba Inu).

Shiba Inu burn rate increased

147.5 million meme coin burning took place last week

Koinfinans.com As we reported, overall, in the last seven days, 147,590,806 SHIB have been destroyed by the joint efforts of the SHIB community. was done. This is a much smaller amount than the weekly amounts burned before September.

During the summer and spring, the SHIB community was sending an average of one or two billion meme coins to their “dead” wallets. The current weekly amount (147.5 million) was the amount they burned in 24 hours at that time.

Possible factor behind the increased burn rate

In the past few days, the price of the second largest meme coin Shiba Inu has dropped by about 4%. Things wouldn’t have been so bad if the drop hadn’t added another zero to the SHIB price. “Adding” took place on October 19.

As a result, the meme coin started falling from the $0.000001039 level and is now trading at $0.00000998. The price decrease may have increased the burning rate.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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