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Per a tweet issued by the Shibburn data tracker earlier today, the Shiba Inu community has been able to propel the burn rate up to a significant level over the past 24 hours.
Meanwhile, all the eyes of the $SHIB community have been on the price, as it has been striving to break above the $0.000033 resistance once again this week.
Burn rate jumps 2,542%
The aforesaid platform revealed that over the past day, the $SHIB burn rate has experienced a jump by more than 2,500%, with a total of 68,170,710 $SHIB meme coins removed from the circulating supply.
That amount of $SHIB was burned in several transactions, but two of them carried the largest amount of coins to unspendable blockchain addresses: 53,423,510 and 14,742,910 $SHIB.
HOURLY $SHIB UPDATE$SHIB Price: $0.00003187 (1hr 0.14% ▲ | 24hr 5.72% ▲ )
— Shibburn (@shibburn) December 6, 2024
Market Cap: $18,770,613,239 (5.81% ▲)
Total Supply: 589,257,708,821,824
TOKENS BURNT
Past 24Hrs: 68,170,710 (2542.67% ▲)
Past 7 Days: 2,985,633,942 (95.55% ▲)
Two days ago, Shibburn reported a mind-blowing rise in $SHIB burns as this metric surged by 144,045%, with 2,041,299,351 $SHIB transferred to dead wallets. A total of 2,020,624,700 $SHIB were burned in a single transfer by @Shibtoshi_SG, founder of the SquidGrow crypto.
Overall, in the last seven days, the $SHIB community has managed to dispose of 2,985,633,942 $SHIB meme coins.
$SHIB price performance
Over the past 24 hours, the second most popular meme-themed cryptocurrency, $SHIB, has faced a decline of roughly 8.55%, falling from $0.000033 to the $0.000030. This drawdown took place after a nearly 24% surge seen by $SHIB earlier this week, between Tuesday and Thursday.
That was the second time $SHIB had attempted to break above the $0.000033 resistance level in the past seven days. The meme coin also reached that level over the weekend after skyrocketing by 24%.
At writing time, Shiba Inu is changing hands at $0.00003014 per coin.