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HomeCrypto NewsMarketShiba Inu Burn Rate Skyrockets 3500% in a Day. Here's Why

Shiba Inu Burn Rate Skyrockets 3500% in a Day. Here’s Why


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Over 8 Million Shiba Inu (SHIB) Burned in the Past 24 Hours, Burn Rate Skyrockets 3500%

In a surprising move, Shiba Inu Community has removed a whopping 8,000,000 (8.0M) SHIB from circulation forever through a single transaction in the past 24 hours.

This unprecedented action has caused a massive surge in the overall burn rate of SHIB, which has skyrocketed by an astounding 3500% in just one day.

Shiba Inu Burn Rate Increased 3500 Percent in the Past 24 Hours
Shiba Inu Burn Rate Increased 3500 Percent in the Past 24 Hours

While this is undoubtedly a significant development for the Shiba Inu Community, it’s important to note that the recent surge is not as exhilarating as initially anticipated. This is because the Shiba Inu Community had only destroyed a meager 250,000 SHIB on April 19th, making the recent surge appear massive in comparison.

Over 1.80 Billion SHIB Burned in Past 7 Days:

Shibburn.com data further reveals that Shiba Inu Community has taken out a humungous 1,802,050,186 (1.80B) SHIB from circulation forever through multiple transactions in the past 7 days.

According to Shibburn.com, the current total supply of Shiba Inu stands at a massive 589,366,798,328,757 (589.36T) SHIB, with the Community having burned a whopping 410,633,201,671,242 (410.63T) SHIB from the initial supply of 1 quadrillion. Out of the total supply, only 574,022,403,265,296 (574.02T) SHIB are currently in circulation, while the remaining 15,344,395,063,461 (15.34T) SHIB has been staked onto the ShibaSwap DEX by long-term investors.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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