20,035,968 SHIB Burned in 24 Hours – What Happened? 🔥🔥🔥

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Massive SHIB Burn

In the past 24 hours, a significant amount of SHIB has been burned, with the burn rate soaring by 1,987%. The second-largest market cap dog-themed token has seen an astonishing increase in its burn rate, with 20,035,968 SHIB disappearing from circulation.

Price Unaffected by Bitcoin

Despite Bitcoin hitting an all-time high, the price of SHIB has dropped nearly 4% over the past day.

Significant Decrease in Weekly Burn Amount

The weekly burn amount indicator shows a substantial decrease, with a negative 92.69%. However, the amount of SHIB burned in the past day clearly exceeds the amount burned in the past week.

Reduction in SHIB Supply

Out of the initial supply of one quadrillion, 410,742,797,923,452 SHIB have been locked out of circulation. The SHIB community urges the development team to accelerate the burn to increase token scarcity and enhance the likelihood of a price surge.

Burn Rate Depends on Activity

The SHIB team responded that the burn rate depends not only on the team's efforts but also on the activity in Shibarium. The higher the utility, the more SHIB will be burned.

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