u.today
Data shared by the Shibburn tracker shows that this metric has demonstrated an impressive increase both on the 24-hour and weekly time frames. The $SHIB army has managed to dispose of a mammoth amount of meme coins lately.
Daily and weekly $SHIB burns soar
According to a recent tweet published by the above-mentioned data source, over the past 24 hours, the $SHIB burn rate went up by almost 129%, erasing a total of 5,771,537 $SHIB. The Shibburn website shows only two burn transactions in this time frame; they carried 2,500,000 and 3,271,537 $SHIB to “inferno” wallets.
As for weekly burns, here one can also detect a massive surge, as this metric has skyrocketed by a whopping 1,756.24%. A mammoth amount of meme coins – 328,816,821 $SHIB – has been transferred to unspendable wallets over the past seven days, the tweet stated.
HOURLY $SHIB UPDATE$SHIB Price: $0.00001885 (1hr 0.80% ▲ | 24hr 3.40% ▲ )
— Shibburn (@shibburn) October 18, 2024
Market Cap: $11,127,861,055 (3.55% ▲)
Total Supply: 589,268,801,082,936
TOKENS BURNT
Past 24Hrs: 5,771,537 (128.32% ▲)
Past 7 Days: 328,816,821 (1756.24% ▲)
The recent burn activity can be attributed the $SHIB price performance this week, as $SHIB has been seeing both significant drops and rises.
$SHIB price falls after 8.49% surge
This week has been quite volatile for the second largest meme cryptocurrency, Shiba Inu. Within the last 24 hours, the prominent meme-inspired coin staged an impressive 8.5% surge, rising from $0.00001769 to the $0.00001916 level. This price rise has been followed by a 3.3% drop today.
This week, $SHIB has been actively trying to break through the resistance at $0.00001872 and fix above it. However, after each of three major attempts to do it, $SHIB was pushed back down. At the time of this writing, the meme coin is changing hands at $0.00001878 per unit.