Shiba

Burn

Spike

Shiba Inu

In a positive turn of events, the <a href="https://bitcoinist.com/shiba-inu-burn-rate-climbs-434/">Shiba Inu burn rate</a> has seen another notable spike. This time around, the activity, meaning the number of addresses participating in the burns, has seen a notable increase and the burned tokens have risen by over 1,100% in one day. 
<h2 class="p2" id="shiba-inu-1-166-spike-in-burn-rate">Shiba Inu 1,166% Spike In Burn Rate</h2> 
According to Shibburn, the official <a href="https://www.shibburn.com/" rel="nofollow noopener" target="_blank">website</a> for tracking the total amount of SHIB tokens burned each day, the <a href="https://bitcoinist.com/shiba-inu-burn-rate-crashes-2/">Shiba Inu burn rate</a> has seen a 1,166% spike. This spike is significant as it shows an increased willingness among Shiba Inu investors to burn tokens. 
In the 24-hour period, a total of 35.29 million tokens have been burned, which is a marked difference from the previous day’s figures. However, what might be more important is the number of burn transactions that have been recorded in the 24-hour timeframe. 
Shibburn’s data shows that there has been a <a href="https://bitcoinist.com/shiba-inu-burn-rate-down-28/">total of 12 burn transactions</a> from holders in the last day. This is a welcome change from the average of six burn transactions that have been recorded over this week. Notable burns have also been recorded across a number of transactions instead of concentrated to just one or two transactions only. 
For example, the highest burn transaction during this time was a wallet which sent a little over 10 million tokens to the burn address. Then there are seven transactions carrying between 2 million and 5.5 million tokens to the address. While the rest of the transactions were carrying much lower volumes. 
This spike in the burn rate follows a positive trend that began this week. On June 18, <a href="https://bitcoinist.com/shiba-inu-burn-rate-spike-5569/">Bitcoinist reported</a> that the Shiba Inu burn rate had seen a 5,569% spike. This comes after a <a href="https://bitcoinist.com/shiba-inu-burn-rate-91-crash/">notable stretch of time with muted burn performances</a>, making this a positive turn in the tide. 
Elsewhere, more specifically, the daily trading volume, Shiba Inu is performing poorly compared to its burn rate. The daily volume is down 14.22% and sitting at $270 million. In the same vein, the price is seeing daily losses of 0.71% and down 15.17% in the last week. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/QwTveNBd/" alt="Shiba Inu price chart from Tradingview.com" width="3286" height="1576">

Shiba Inu Burn Rate Surges 1,166% In One Day As Activity Spikes

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Bitcoinist

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