LIVEshibaInu Community Burned 1,695,717,536 SHIB in April
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Shibburn, a community-driven platform focused on Shiba Inu, recently highlighted significant burn activity in April. According to their update, community members removed over 1.696 billion SHIB tokens from circulation during the month, valued at approximately $37,254.
April's burn activity was spread across 204 transactions, with the peak occurring on April 13, when over 600 million SHIB tokens were burned. Interestingly, this spike in burns coincided with a price crash for Shiba Inu, dropping to $0.0000185.
On April 20, nearly 400 million $SHIB tokens were burned, with the majority of burns involving amounts below 100 million tokens. Overall, April witnessed an 89.16% decrease in the monthly burn rate compared to March, which saw over 15.64 billion SHIB tokens burned, marking a significant 2,330% growth from February's burn rate.
March saw the highest SHIB burn, coinciding with SHIB's price surge to $0.000045. However, April experienced a bearish market sentiment, leading to a significant loss in SHIB's value.
A notable portion of SHIB tokens burned in April were mistakenly sent to the Shiba Inu contract address. This unintended burn emphasizes the importance of community members exercising caution and double-checking wallet addresses before initiating transfers.
