The Shiba Inu community continues to actively reduce the circulating supply of the coin by transferring daily amounts of tokens to dedicated 'inferno wallets.'
Increase in SHIB Burn Rate
According to data from Shibburn, the SHIB burn rate has increased by an impressive 1,693.7% over the past week. This was made possible by a total of 1,042,699,761 SHIB burned.
Recent Shiba Inu Burns
Recently, a significant burn of 1,000,000,000 SHIB took place, conducted by an anonymous wallet, which significantly contributed to the overall burn results. Currently, the largest amount of meme coins burned has been 10,061,416 SHIB about 22 hours ago. The total amount of SHIB burned recently is 11,195,149.
Current Market Situation
Despite the increased burn rate, the overall circulating supply of SHIB remains unchanged at 589,248,746,682,927 tokens. The current price of SHIB is $0.00001195, while the market cap has reached $7,037,866,868.
Thus, the community's active efforts to reduce the Shiba Inu supply are significant, though changes in the circulating supply on the market remain minimal.
