Shiba Inustarts the week with a mix of positive increase in burn rate and slight decrease in price to show a visibly dynamic ecosystem.
Shiba Inu Killing Rate
Data from Shibburn puts the total number of tokens burned at 298,761,752 SHIB, an increase of 438.17% in the last 24 hours. This burn rate is small considering that the SHIB burn rate has increased noticeably over the past week.
Members of the Shiba Inu ecosystem have been proactive in burning the SHIB since the beginning of this year. The collective effort saw total burned tokens from the initial offering jump to 410,723,397,483,539 SHIB, leaving a total of 589,276,602,516,460 SHIB in circulation.
While the deflationary campaign through massive burning of SHIB is still going on manually and based on the curiosity of community members, the most significant transaction came from a wallet address labeled “0xda…f57705” which burned a total of 211,489,784 SHIB tokens. Other major burns detected include 50,000,000 million from 0xdb…2019a and 46,000,000 SHIB from 0xb23…c460.
SHIB Price Movement
Amidst the positivity surrounding the Shiba Inu burning campaign, meme coinThe price of has failed to make any significant gains in 24 hours. At press time, Shiba Inu is down 2% at $0.00003426, according to CoinGecko data.
The sales can be considered a slight correction from last week’s big rally, with growth of 25.5%. SHIB is showing solid resistance above the $0.00003 price mark. The medium-to-long-term goal of this bull cycle is set to exceed the previous all-time high (ATH) and completely erase another zero.
