shibburn According to the data provided by the monitoring platform, in the last 24 hours, the meme coin burn rate has increased by 478% compared to the previous 24-hour period. Meanwhile, Shiba Inu has surpassed the two top crypto assets by market cap (Tron and Solana), thus reaching a new milestone. Details are here.
Meme coin burn rate
In the last 24 hours, 5,712,508 meme coins have been removed from circulation through the joint efforts of the Shiba Inu community. This is actually not a huge amount, but considerably higher than the approximately 1 million SHIB burned the previous day.
The data show that the burn rate increased by 478%. In contrast, over the past few weeks, the amount of SHIB burned has dropped drastically. In October, an average of 20 million Shiba Inu was burned each day, mostly. This decline began in the fall: the daily amount of meme coins locked in dead-unused wallets during the summer was 200-300 million, or even half a billion.
Although we see huge increases on a daily basis, we can say that the total amount of burning has decreased. For example, last Sunday, the burn rate of the second largest meme coin was 5,200% higher than the previous day. However, the amount of SHIB burned was only 197,799,286 tokens.
Shiba Inu surpasses TRX
Koinfinans.com As we reported, Shiba Inu has outpaced the popular coin (Tron’s TRX) by market cap. The market cap of SHIB is currently around $5,356,544,247. SHIB even surpassed the Solana network’s SOL token at one point, but SOL was able to take the lead again with one last attack.
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.