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The Shibburn Twitter account gives the amount of Shiba Inu burned in the last seven days in millions. Shibburn reports that in the past seven days, a total of 282,730,986 SHIB tokens have been burned in 22 transactions.
Previous weeks have seen the amount of SHIB burned reach billions. In the week before, a whopping 4 billion Shiba Inu tokens were burned.
In the last 7 days, there have been a total of 282,730,986 $SHIB tokens burned and 22 transactions. #shib
— Shibburn (@shibburn) June 11, 2023
In the last 24 hours, the amount has remained significant, with 45,125,167 SHIB tokens burned in eight transactions. The Shiba Inu burn rate, however, remains down 87.33% in the last 24 hours.
Shiba Inu rebounds 11%
After the massive sell-off in the past day, Shiba Inu has shown a rebound of about 11%. At the time of writing, SHIB was up 6.87% in the last 24 hours to $0.0000068.
The previous day, Shiba Inu saw a massive sell-off, dropping 21% to lows of $0.00000549. This is because the crypto market saw immense selling pressure as a result of the SEC crackdown, with most altcoins seeing significant losses of up to 25% before rebounding slightly.
As uncertainty and quietness remain in the market, Lucie, a Shiba ecosystem official, has shared the reassuring words of the Shiba Inu lead, Shytoshi Kusama.
According to a screenshot by Lucie, Kusama addresses FUD while hinting at a massive reveal in the coming months, likely in early July.
"Infact when the time is right, the next 'something is coming' trailer will blossom into a showcase of the next addition to our ecosystem and slated for early July. Ill tie it all together and show how we have aligned with the best-decentralized product that covers governance, IRL, MV, blockchain, AI &DAO's in a way that simply cannot be done by anyone else on the planet," Kusama stated.