Shiba Inu Burning continues unabated in . Burning rates are on the rise despite price declines. This attracted attention with a sharp increase of 62.58% in 24 hours as several million SHIBs were removed from circulation, according to the SHIB burn tracker.
The Shiba Inu community at large has been steadily continuing its cremation efforts following its release.
Along with these, with the last burn attempt, the community removed 6.9 million tokens from circulation. Among the ten transactions carried out so far, a few transactions stand out. These include burning large amounts of SHIB tokens at various intervals.
In addition to the 6.9 million SHIBs recently burned, the Shiba Inu community eliminated several more tokens last week, bringing the total amount of SHIBs burned in the past seven days to 57.67 million. Interestingly, this figure represents a 57% decrease compared to the total amount burned in the previous week. Therefore, the significant increase in daily burn rate has not yet been reflected in weekly burn volume.
meme coin It was released in 2020. It has successfully removed more than 410 trillion SHIB tokens from circulation since its launch.
This leaves only 582.9 trillion SHIBs in circulation, out of the first quadrillion tokens created. At the time of writing, more than 6.28 trillion SHIB remains locked on staking platforms. SHIB is trading at $0.00002393 at the time of writing. In this context, it is trying to recover from the recent 5.84% price drop.
