u.today
Data shared by the popular tracking platform Shibburn has revealed that the $SHIB burn rate has shown an impressive 108% rise recently. However, there is a catch in this good news, despite nearly 100 million $SHIB meme coins being torched in total.
This has coincided with several consecutive attempts to break out recently. Over the last day, $SHIB has attempted to pare its recent losses and rose by less than 2%. The overall price surge since Friday constitutes 3.15%.
Weekly burns spike 108%
Per a recent tweet published by Shibburn, the weekly burn rate of the second largest meme cryptocurrency, $SHIB, has demonstrated a massive surge of 108.73%. Over the last seven days, a substantial amount of 95,442,500 $SHIB has been transferred to unspendable blockchain addresses.
Meanwhile, the daily burn rate has not been doing so well, as it is down 74.88% in the red zone with an almost tenfold smaller outcome - 9,762,549 $SHIB destroyed.
HOURLY $SHIB UPDATE$SHIB Price: $0.00001712 (1hr 0.20% ▲ | 24hr 0.83% ▲ )
— Shibburn (@shibburn) October 28, 2024
Market Cap: $10,075,404,437 (0.75% ▲)
Total Supply: 589,268,689,236,397
TOKENS BURNT
Past 24Hrs: 9,762,549 (-74.88% ▼)
Past 7 Days: 95,442,500 (108.73% ▲)
According to figures shown by the Shibburn website, there has been only one burn transfer today so far. On Sunday, there was also just a single transaction, which moved 16,402,650 $SHIB to a dead-end wallet.
As reported by U.Today, last Friday, this $SHIB metric witnessed a jaw-dropping increase of 65,529.67%.