Shiba Inu burn rate hits 1,600% as community burns 89 million SHIBs 🚀

The initial Shiba Inu supply now stands at 410.707 billion, and the current circulating supply stands at 581.128 billion.

Shiba Inu, one of the most prominent meme coins running atop the Ethereum blockchain, once again sparked a whirlwind of speculation in the broader crypto market on Tuesday as the token recorded a staggering increase in its rate combustion. According to on-chain data hovering over the crypto horizon, over 36 million SHIBs burned in the last day have caught the attention of crypto market enthusiasts.

Additionally, consistent with the data, the Shiba crypto community also appears to have encouraged efforts to improve SHIB tokenomics. Meanwhile, the community incinerated more than 80 million SHIBs over the past day, further boosting market optimism.

SHIB Burn Report
According to data revealed by Shibburn, a platform facilitating the analysis of Shiba Inu burning, the community noted a colossal 1,628% increase in burning over the last 24 hours on Tuesday, January 16. Notably, the data showed a whopping 88.75 million SHIBs collectively cremated over the past. day.

Additionally, the Shiba crypto community appears to be responsible for a dominant stake in incineration, compared to incinerated coins. According to the data, the community moved a whopping 34.24 million SHIB to a dead wallet today, accompanied by a second transaction, moving 52.39 million SHIB again. This appears to have spawned a tidal wave of speculation across the global crypto landscape.

Additionally, the total number of coins burned from Shiba Inu's initial supply now stands at 410.707 billion, and the current circulating supply stands at 581.128 billion.

Shiba Inu Price Sheets
At the time of writing, Shiba Inu price recorded a marginal decline of 0.43% over the last 24 hours and is currently trading at $0.000009599. Additionally, its market capitalization and trading volume also showed notable declines, falling by 0.50% and 8.45%.


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