SHIB Burns Skyrocket 5,154%, Here's What's Happening

Data shared by the blockchain tracker Shibburn has revealed that, in the last day, the SHIB army has managed to shovel another big meme coin lump into “inferno” wallets, removing tens of millions of SHIB. This high result increase was achieved largely thanks to a massive single SHIB burn. This has coincided with a rigorous attempt by the SHIB price to surge, which ultimately failed, bringing the price back to the spot from where it spiked on Wednesday. SHIB burns over 5,000% up According to the above-mentioned data source, over the period of the last 24 hours, the SHIB community has succeeded in disposing of 61,468,595 SHIB meme coins in total. This triggered a massive surge in the burn rate, as it jumped by 5,154%.

This large amount of SHIB was sent to unspendable blockchain wallets in seven transfers. The largest one carried 48,266,929 SHIB, which constituted roughly 80.95% of the total amount of the burned coins. This transfer was performed by an unknown wallet seven

hours ago.

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