SHIB Burn Rate Surges 405% in One Day, Totaling 124 Million Tokens Destroyed

Shibburn, a tracker for Shiba Inu burns, reported a significant surge in burn rate over the past day. A total of 124,023,282 SHIB was destroyed in the last 24 hours, representing a 405.21% increase from the previous day.

The burn accelerated in the early hours of Saturday, with a cumulative 124 million SHIB burned in just 24 hours. The data also shows that WoofSwap V3 was the top burner, sending 3,023,711,746 SHIB to dead wallets.

In contrast to the surge in burn rate, the Shiba Inu price saw a modest increase of 2.71% over the past day, with its market cap rising to $2,930,406,001.

Looking at the bigger picture, a total of 3.90 billion SHIB has been burned through 21,437 transactions since Shibburn started tracking the data. This represents around 41.08% of the initial 1 quadrillion SHIB token supply.