In the last 24 hours, Shiba Inu (SHIB) tokens have shown an impressive 883% increase in burn rates, capturing the interest of the entire crypto community.
Increase in Shiba Inu Token Burn
According to data from Shibburn, 21,611,083 SHIB were burned in the last day, representing an 883.89% increase from previous metrics. One of the causes of this spike was a single transaction that sent 16,444,740 SHIB to a dead wallet.
Total Tokens Burned
Over the past week, 131,421,765 tokens were burned, marking a 129.63% increase compared to prior periods. In total, 410.75 trillion SHIB tokens have been permanently removed from circulation, significantly reducing the initial one-quadrillion supply.
Impact on Community and Market
The interest in token burning goes beyond just removing tokens from circulation. It reflects high engagement within the SHIB community and may positively impact the token's long-term perception. Currently, SHIB is valued at $0.00001496, down 4.94% from the previous day, but up 15.27% over the last week.
The increase in SHIB token burn rates signifies a high level of community activity and engagement, which could influence the token's long-term value.
