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🔥💥Shiba Inu Burning Rate Increased by 64.201%, 657 Million SHIB Burned to Ashes
The dog-themed cryptocurrency #ShibaInu has seen a staggering 64,201% increase in burn rate, and 657 million #SHIB have been permanently removed from circulation.
According to the Shibburn X account, 657,148,384 SHIB tokens have been burned in eight transactions in the last 24 hours. This amounted to $ 13,878 in monetary terms
In a single gigantic burn, 650 million SHIB were sent to the dead addresses, which contributed to a significant increase in the amount burned. The timing of this burn coincides with a broader market downturn, in which most digital assets experienced significant losses and is often referred to as a "crypto bloodbath". In this context, the big SHIB burn stands out as a bold counter move that shows the proactive approach of the community to influencing the market dynamics of the token. The total of 657 million SHIB burned accounts for a small part of the total supply of the token, which was initially quadrillion. But the increase in the burn rate may be one of the biggest increases in recent weeks.
According to IntoTheBlock's on-chain data, Shiba Inu is currently struggling to hold the December 51 trillion SHIB, which is between $0.000022 and $0.000025, where 57,520 addresses hold 51.27 trillion SHIB at an average price of $0. Dec.000023. December Decembers successfully, resistance can be met in the range of $0.000025 to $0.000030; if lost, support can be predicted between $0.000019 and $0.000022.
