🔥🔥🔥More than 130 Million Shiba Inu Tokens Destroyed as #SHIB Burn Rate Increases by 1300% Will the Price Rise?
Memecoin #ShibaInu made headlines again today by rapidly increasing its burn rate by over 1300% when more than 130 million tokens were sent to burn wallets. A large amount of burning has occurred in the last 24 hours, and a significant amount of tokens have been burned in single transactions. As a result, the incident seems to have affected the price of SHIB in the short term, because its price increased by more than 6% during this period.
After the recent price correction caused by global market sentiment and a drop to $ 0.000024, the beloved memecoin recovered and jumped to $ 0.00003, leaving investors hoping for an even higher move.
More than 130 million SHIB tokens were sent to burn wallets
In recent events, Shibburn, a dedicated Shiba Inu burn follower, has reported a large amount of SHIB burns on the last day. According to the data, exactly 135,451,536 SHIB (135.4 million) tokens were removed from circulation in twelve transactions. The Shiba Inu community continues to destroy a large amount of tokens every day in order to greatly reduce the number of tokens in circulation. This could potentially affect the price of SHIB, throwing it to different levels.
It is noteworthy that about 24 hours ago, a wallet destroyed more than 91 million tokens in a single transaction. About 7 hours before that, two transactions were recorded that moved 12.4 million and 25 million shib. As a result of these important transfers, the combustion rate has shown a tremendous increase of 1344.14%.
By the way, despite today's big pumping, investors have been on edge due to the extremely unpredictable movement of the token over the past few days. Dec.December. However, SHIB has exhibited bullish waves in the cryptocurrency ecosystem today, and memecoin's on-chain analytics indicate that there is strong Sunday growth for the token as of this writing.
