Shiba Inu Burn Activity Surges 1,307% in 24 Hours as 47 Million SHIB Are Destroyed

TL;DR

• SHIB recorded a 1,307% increase in its daily burn rate, sending 46.25 million tokens to unrecoverable wallets in 24 hours.
• The weekly burn volume surpassed 126 million tokens, equivalent to approximately $678 at the current trading price.
• Despite the massive burn event, the token is trading in negative territory and remains just above $0.00000539.

The Shiba Inu network recorded over the last 24 hours an explosive increase in its burn activity, with a total of 46.25 million SHIB tokens permanently destroyed and sent to unrecoverable wallets, according to data recently published.

The event represents a 1,307% surge in the daily burn rate of the token, a figure that reflects an unusually high level of activity within the network.

The cumulative impact of this session pushed the weekly burn volume above 126 million SHIB, valued at approximately $678 at the current trading price. This type of operation permanently removes tokens from the circulating supply, reducing the amount available for sale on the market.

… Continue reading the full article at the original source below.