Shibburn data shows a significant increase in the amount of Shiba Inu cremated in the last 24 hours. The data reveals a nearly 500 percent jump in burn rate. Meanwhile, BONK, another meme conin that is trending in the market, made a mysterious post.
Shiba Inu burn rate broke a record!
Meme coin Shiba Inu saw a remarkable jump in burn rate heading into the week. According to data from SHIB burn tracker Shibburn, the burn rate has increased by nearly 500% in the last 24 hours. This indicated a significant increase in the number of SHIB tokens leaving circulation. Notably, data shows that the increase came after more than 264 million SHIB tokens were sent to dead wallets. Additionally, the data reveals that a wallet named “Oxa9d…3e43” contributed to a large portion of the SHIBs sent for burning, with more than 261 million tokens transferred from this wallet.
The latest increase underscores the Shiba Inu community’s efforts to increase the token price. More importantly, community members expect token demand to increase, reducing the total number of SHIB tokens in circulation. The number of wallets added to the total amount burned in the last 24 hours reflects the collective deflationary effort of the community.
SHIB price performance
However, despite the high jump in burn rate, the Shiba Inu price seems relatively unaffected by this increase. SHIB experienced an upward swing in the early hours of Monday. However, it has since crashed nosedive after reaching current levels. According to CoinMarketCap data, the token has seen a decline of 0.93% in the last 24 hours.
On the weekly chart, the token is down 4.83% amid the slowdown in the crypto market since last week. However, over the past 30 days, the Shiba Inu has increased by 4.8%. On the other hand, it has slipped significantly from the highs recorded in early November. Meanwhile, trading volumes have increased significantly, with an increase of 81% in the last 24 hours. However, Shiba Inu remains the 19th ranked cryptocurrency by market cap. The token is the second largest network in the meme coin category after Dogecoin.
Meme coin Bonk (BONK) shared that it will make an announcement
Although Bonk is behind in the meme coin category, it has managed to attract attention with its recent debut. Especially the listing of the giant cryptocurrency exchange Binance in futures transactions took BONK on its journey to the moon. cryptokoin.comAs you follow from , meme coin has increased by 500% in the last month. However, it is trading in the red zone today. In the midst of these developments, the Bonk team announced an ‘announcement’ accompanied by a picture. In this post, he included a picture of a Shiba Inu dog with a cigarette in his mouth and a mobile phone in his hand. In addition, he made the following statement:
Looking at today’s announcement and waiting for the community’s reaction…
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