According to crypto analytics portal CryptEye, the SHIB burn rate has slowed considerably since the start of the fall. According to the data, around 12 billion SHIBs were burned during the three months of summer, which shows that an average of 4 billion meme coins were burned per month. In contrast, only 2.36 billion SHIBs have been sent to “dead” addresses in the past month and a half. Thus, the possible reduction in the burn rate of SHIB since the beginning of autumn (early September) corresponds to 60.6%.
Koinifnans.com As we reported, the interesting thing is that as the SHIB burn rate decreased, so did the price of the Shiba Inu token. The SHIB price has lost 15.5% since the beginning of September. Accordingly, with the decrease in the price of the cryptocurrency, more meme coins could be burned for less money, but still, the price drop did not have such an effect. As a result, the overall picture of SHIB burning is slowly changing.
So far, 41.038% of the Shiba Inu supply has been burned – the equivalent of 410.38 trillion meme coins. 58.96% of the Shiba Inu’s circulating supply is still on the market, bringing the value of the project to $5.68 billion at the current price of $0.0000103.
in a nutshell SHIB burning statistics have changed a lot since the beginning of September.
More about meme coin burning
Currently, Shiba Inu is being burned by sending certain tokens to four “dead” addresses, but according to the statements of the people involved in the development of the project, the process will soon enter a new turn.
Therefore, SHIB is expected to be burned through the long-awaited Layer 2 protocol Shibarium alongside the recently released game Shiba Eternity. However, the details have not yet been disclosed.
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.