Shiba

Burn

Shiba Inu

Coin

<ul class="news-points"> 
 <li>Shiba Inu burn rates jumped 2,224% in the past 24 hours.&nbsp;</li> 
 <li>Over 5 million Shiba Inu tokens were sent for incineration during that period.&nbsp;</li> 
 <li>Shibarium daily transactions jumped in the same period, alongside a rise in SHIB’s value.</li> 
</ul> 
Ethereum-based meme coin network Shiba Inu has seen a sporadic rise in its token burn rate in the past 24 hours, data from <a href="https://www.shibburn.com/" target="_blank" rel="nofollow">Shibburn</a> reveals.&nbsp; 
The incineration, which is a collective effort by the meme coin’s team and community, jumped 2,224% in the aforementioned period, following a recent slowdown in the burn rate. In that time, over 5 million Shiba Inu tokens were sent to dead wallets and effectively taken from circulation.&nbsp; 
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 <img decoding="async" width="602" height="405" src="https://coinedition.com/wp-content/uploads/2024/01/Shibburn.png" alt="" class="wp-image-360047" srcset="https://coinedition.com/wp-content/uploads/2024/01/Shibburn.png 602w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-300x202.png 300w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-380x256.png 380w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-132x89.png 132w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-367x247.png 367w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-357x240.png 357w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-245x165.png 245w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-314x211.png 314w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-104x70.png 104w, https://coinedition.com/wp-content/uploads/2024/01/Shibburn-111x75.png 111w" sizes="(max-width: 602px) 100vw, 602px">
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 <a href="https://twitter.com/shibburn/status/1743195678598127731?s=20" target="_blank" rel="nofollow">SHIB Burn</a>
 </figcaption>
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</div> 
According to data from Shibburn, three wallet addresses spearheaded the uptick in the burn rate. In particular, wallet address 0xa9d1…67e9 incinerated 3 million SHIB in two transactions, while another wallet, 0x60812…253d, burned 1 million SHIB. 
The recent rise in the burn rate underscores continued efforts by the SHIB team and community to constrict the token’s supply. Expectations are that a reduced supply of SHIB, alongside other community endeavors, will help drive up the value of the …
The post <a href="https://coinedition.com/shib-burn-skyrockets-2274-in-24-hours-bullish-signal-for-shiba-inu/">SHIB Burn Skyrockets 2274% In 24 Hours: Bullish Signal for Shiba Inu?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

SHIB Burn Skyrockets 2274% In 24 Hours: Bullish Signal for Shiba Inu?

Coin Edition

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