Shiba Inu Burn Rate Skyrockets by 405% in 24 Hours

Shiba Inu's burn rate has accelerated significantly in recent hours, according to Shibburn, an hourly update on the token's burn tracker. The platform reports that 124,023,282 SHIB were burned in the last 24 hours, with a daily burn rate surging by 405.21%. This marks a substantial increase from the previous day, and it is unclear what triggered this sudden spike.

The cumulative total of SHIB burned over the past 30 days stands at 3.90 billion, with WoofSwap V3 emerging as the top burner, sending 3,023,711,746 SHIB to dead wallets. Robinhood also played a significant role, contributing 159,592,109 SHIB through transactions on its platform.

In total, 410,843,579,789,609 SHIB have been burned via 21,437 transactions, representing approximately 41.08% of the initial 1 quadrillion SHIB token supply.