Shiba

Burn

Shiba Inu

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Shiba Inu's weekly <a href="https://twitter.com/shibburn/status/1733724973859012965" rel="noopener noreferrer nofollow">burn rate</a> has seen a gigantic increase as billions of <a href="https://u.today/shiba-inu-shib-triggers-341-volume-increase-reason-behind-it" rel="noopener noreferrer nofollow">SHIB</a> are sent to the fiery furnace to be burned.
<blockquote>
 In the last 7 days, there have been a total of 8,531,983,464 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> tokens burned and 58 transactions. <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> <a href="https://t.co/5ASvSgAALW" rel="noopener noreferrer nofollow">pic.twitter.com/5ASvSgAALW</a>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1733724973859012965?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 10, 2023</a>
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In the last seven days, there have been a total of 8,531,983,464 SHIB tokens burned in 58 transactions. This amounted to $85,319, causing the weekly burn rate to skyrocket to 1,517.48%.
The week before saw over half a billion SHIB burned. The increase to about 8.5 billion SHIB implies a 17-fold increase, which was mostly attributed to a big burn by Shiba Inu developers in the week that just concluded.
The <a href="https://twitter.com/LucieSHIB/status/1731752178967019874" rel="noopener noreferrer nofollow">SHIB team</a> completed the first-ever burn on Shibarium, transferring a record-breaking 8,241,856,589 (8.24 billion) SHIB tokens to dead wallets in one transaction, equivalent to $75,412.
The daily SHIB burn rate is also seeing a 543.5% spike, with a total of 148,026,556 SHIB tokens amounting to $1,514 burned in 34 transactions in the last 24 hours.
<h2 id="shiba-inu-price-action">Shiba Inu price action</h2>
SHIB was down 0.98% in the last 24 hours to $0.0000101 at the time of writing. According to crypto analyst <a href="https://twitter.com/ali_charts/status/1733587823616520238" rel="noopener noreferrer nofollow">Ali</a>, <a href="https://u.today/shiba-inu-shib-weekly-burn-drops-to-lowest-in-months-hype-fading" rel="noopener noreferrer nofollow">Shiba Inu</a> has increased by 55% in the last three months while remaining relatively quiet during the recent altcoin season.
While there is still room for growth, he stated that SHIB is approaching a key resistance zone, with roughly 90,000 addresses holding over 422 trillion SHIB at $0.000016.
Massive transfers have occurred for Shiba Inu in the previous 24 hours. According to Whale Alert, in the last few hours, 4,218,953,460,450 SHIB worth $43,372,951 were transferred from unknown whale wallets.
On Dec. 8, a stash of 4,238,953,460,450 SHIB worth $42,219,976 was moved in between wallets.

Shiba Inu Weekly Burn Rate Skyrockets 1,517% as Billions of SHIB Burned

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