According to data from the Shibburn website, the burn rate of coin has increased significantly in the past 24 hours.
SHIB burn rises almost 1,500%
According to the aforementioned SHIB burn tracking platform, the rate at which Shiba Inu is burned has increased by 1.494 percent in the past 24 hours. In total, 45,165,582 SHIB were destroyed (burned). A day earlier, this number was 2,833,917 SHIB.
In the past 24 hours, 37,843,644 Shiba Inu have been withdrawn from circulation due to a mysterious transfer. According to data from the Shibburn website, the burn rate of coin has increased significantly in the past 24 hours. The coins have been sent to a dead wallet.
In the past 24 hours, there have been a total of 45,165,582 $SHIB tokens burned and 6 transactions. visit https://t.co/t0eRMnhnPL to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) October 24, 2022
147.5 million burned in last week
The SHIB army has burned 147,590,806 SHIB in the past seven days. This is a much smaller amount that was burned weekly than before September. In the summer and spring, the SHIB military sent an average of one to two billion coins to the so-called “inferno” wallets.
The current amount, 147.5 million, used to be burned within 24 hours on average. Now the burn numbers have dropped so much that this has become the result of one week of burning.
In the last 7 days, a total of 147,590,806 $SHIB tokens have been burned and 48 transactions have been made.
– Shibburn
In the last 7 days, there have been a total of 147,590,806 $SHIB tokens burned and 48 transactions. #shibarmy
— Shibburn (@shibburn) October 23, 2022
Possible cause
In recent days, as of Tuesday, October 18, the price of Shiba Inu has fallen by almost 4 percent. The price dropped from $0.00001039 to a value of $0.000009991. This drop has wiped out the 2.21% price increase from Sunday night.
