Shiba Inu Burn Rate Soars by Over 1,020% in 24 Hours

The Shiba Inu burn rate has experienced a significant increase, rising by over 1,020% in just 24 hours. According to data from Shibburn, approximately 20.95 million SHIB were removed from circulation during this period.

This sudden surge marks a turnaround after several days of low burn activity and follows a recent drop in the number of SHIB sent to dead wallets. The past seven days have seen a total of 85.48 million SHIB burned, with a weekly rate decrease of 46.20% compared to the previous week.

In the last 30 days, over 607.34 million SHIB have been removed from circulation, substantially reducing the token's circulating supply from its original 1 quadrillion coins. This reduction is due in part to 21,690 burn transactions that have permanently locked out these tokens.