Amazing! Shiba Inu (SHIB) Depletion Surges 1,166% in One Day as Activity Spikes

The Shiba Inu destruction rate has spiked 1,166%, according to Shibburn, the official website that tracks the total amount of SHIB tokens destroyed each day. This spike is significant because it indicates an increased willingness among Shiba Inu investors to destroy tokens.

In total, 35.29 million tokens were destroyed in 24 hours, a significant difference compared to the day before.

However, perhaps more important is the number of destruction transactions recorded in the 24-hour period.

Data from Shibburn shows that holders have made a total of 12 destruction transactions in the past day. This is a welcome change from the average of 6 destruction transactions recorded this week. The notable destruction records appeared in multiple transactions, not just one or two transactions.

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The surge in the destruction rate follows a positive trend that started this week. On June 18, Bitcoinist reported that Shiba Inu’s burn rate had surged 5,569%. This is a positive turn of events after a period of relatively lackluster performance.

Elsewhere, more specifically, Shiba Inu’s daily trading volume has underperformed compared to its burn rate. Daily trading volume is down 14.22% at $270 million. Similarly, the price is down 0.71% daily and 15.17% over the past week.

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