The Shibburn platform has reported impressive burning volumes of SHIB coins, noting that over 1 billion tokens have been removed from circulation. However, it is important to recognize that these figures have their nuances.
General Data on SHIB Burning
In recent days, the Shiba Inu community has successfully removed a record amount of 1,173,981,855 SHIB from circulation. This indicates a growing interest in token burning among the community.
Burn Dynamics Over the Past Week
Over the past week, the burning rate for SHIB surged by 933.05%. A significant event occurred on one of the days when nearly half of the total amount, 515,084,781 SHIB, was transferred to an unspendable blockchain wallet.
Current SHIB Circulation Situation
As of now, a total of 410,750,069,414,086 SHIB has been burned, while 584,523,662,479,964 SHIB remains in circulation.
Thus, despite the record volumes of SHIB burning, one must take into account the nuances and realize that significant changes occur within a limited time frame.
