SHIB burns have increased by 360%

Recent data indicates that in the last 24 hours, the rate of meme coin SHIB leaving the circulating supply has increased by almost 360%, totaling 23,726,896 Shiba Inu.

A total of 22,988,505 SHIB were burned in the largest single transaction involving a meme coin. During the last week, 3x coins were sent to unspendable wallets, permanently leaving the market. Even with the destruction of 66,799,664 SHIB, the burn rate has experienced a decrease of 47.37%, as reported in the Shibburn tweet.

The main goal of burning the coins is to significantly reduce the circulating supply, which could result in a notable increase in the price of SHIB. To date, almost 50% of the original supply of quadrillions has been removed. That amounts to 410,742,899,523,458 SHIB, with 584,158,144,524,778 SHIB remaining in circulation, of which 5,098,955,951,762 SHIB have been deposited.