Shiba Inu Burn Rate Surges 31,712% in One Day
Shiba Inu's burn rate surged by a staggering 31,712% in one day, according to Shibburn's X update. This massive increase resulted in 72.23 million SHIB tokens being burned in the last 24 hours, with a significant portion of those coming from major crypto exchange Coinbase. A total of 69,382,214 $SHIB tokens were sent to the burn furnace from Coinbase alone.
This surge in burn rate is part of a larger trend that has seen 111.41 million SHIB burned in the last seven days and 476.96 million burned over the past 30 days. While the daily burn rate has increased, the weekly and monthly rates have actually decreased by 25.06% and 86.19%, respectively.
The total number of SHIB tokens burned now stands at 410,844,342,553,194, accounting for 41.08% of Shiba Inu's initial supply of 1 quadrillion tokens. The burn rate is a key aspect of Shiba Inu's tokenomics and has been closely watched by investors.