- SHIB witnessed a 704.59% spike in its burn rate, with 9,793,961 SHIB sent to dead wallets.
- The Shiba Inu community actively contributed to reducing the SHIB supply, burning 9,653,363 SHIB and emphasizing their resolve.
- Price Surge and Bullish Outlook: SHIB’s price rose 5.3% to $0.000008612, marking the highest level in a month.
The Shiba Inu (SHIB) community has witnessed a remarkable surge in SHIB’s deflationary burn rate. Data from Shibburn reveals an astounding 704.59% increase in the total number of SHIB tokens sent to dead wallets in just one day.
This surge amounts to a jaw-dropping 9,793,961 SHIB tokens, a figure that has left the community in awe. The bulk of this remarkable feat can be attributed to the address “0x195451..,” which contributed a substantial 9,653,363 tokens to the burn wallet.
Additionally, three other wallets also chipped in with smaller contributions, underscoring the unwavering determination of the broader Shiba Inu community to deflate the excessive SHIB supply. This ongoing effort has been a consistent trend throughout the week, with over 120 million SHIB tokens taken out of circulation so far.
The cumulative impact of this burning spree has been nothing short of phenomenal. Since the introduction of the deflationary metric, a staggering 410,644,719,355,767 SHIB tokens have been burned, leaving approximately 580,026,441,139,621 SHIB in circulation.
In tandem with this remarkable burn rate, Shiba Inu’s price has experienced a major recovery. According to data from CoinMarketCap, SHIB has surged by 5.3% overnight, reaching a crucial threshold of $0.000008612. This price level marks a month-high for SHIB and is the highest it has touched since August 19.
