According to data shared by popular tracker Shibburn, the consumption rate of SHIB has dropped to zero in the past day. But strangely, a large number of meme coins are still being transferred to unusable wallets.
Meanwhile, SHIB prices also surged by more than 7%.
SHIB destruction rate is zero, millions of tokens are burned
Shibburn’s public data shows that in the past 24 hours, the joint efforts of the SHIB team have resulted in the destruction of 1,412,571 SHIB meme coins. However, the destruction rate shown by the data source is still at zero.
The only positive point is that this zero point is marked in green instead of red. This data source often shows a zero reading for the burn rate, but it can be green or red. One possible explanation is that the site is down from time to time.
Data from the website shows four burn transactions. The two largest burn transactions hold 1,111,111 and 189,472 SHIB, respectively.
The latest tweet from Shibburn confirms this data. It also reveals that the weekly burn rate has skyrocketed by an astonishing 5,929.22% compared to the daily burn rate that plummeted to zero. Overall, a total of 5,753,160,030 SHIB meme coins have been burned into dead wallets over the past week.
The significant increase in the burn rate is attributed to a single transfer last week that burned 5,612,878,479 SHIB. This meme coin was valued at approximately $100,000, and the newly launched meme coin project Shiro Neko generously burned this SHIB.
Many SHIB-themed accounts, including Lucie (Shiba Inu's official marketing lead), have responded positively to this massive expenditure.
Shib Team Issues Major Warning
Before revealing the mysterious SHIB burner on Crypto X, the SHIB team published a post warning the SHIB army to be cautious of those outside the Shiba Inu community who decide to burn large amounts of Shiba Inu.
On that day, the burn rate surged by 259,910%, as the @susbarium X account associated with the meme coin team stated that such a massive burn could serve as a 'quick attention-grabbing tactic.'
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