u.today
A substantial amount of $SHIB meme coins has been pushed out of circulation over the past 24 hours, according to the recent data from the Shibburn tracking service.
This massive burn has triggered a four-digit increase in the $SHIB burn rate.
$SHIB burns surge 2,416%, millions of coins gone
According to the recent update published by the aforementioned data source, over the first day, the metric that tracks the shrinking $SHIB supply, $SHIB burn rate, has jumped by 2,416.44%. The cumulative amount of meme coins that have been removed from the market this time permanently totals 53,913,481 $SHIB.
The three largest coin chunks transferred to dead wallets since last morning carried 14,178,952, 23,068,929, and 11,264,137 $SHIB.
As U.Today reported earlier, over the weekend, the burn rate spiked by 22,662.92%, but the amount of meme coins burned on Saturday was much smaller – 37,959,900 $SHIB.
$SHIB price jumps 4.8%
The $SHIB price has experienced a substantial 4.8% increase, rapidly rising from $0.00001408 to the $0.00001476 level. The second-largest meme coin followed the price trajectory of the bellwether cryptocurrency Bitcoin.
BTC surged by 2.43% over the past 24 hours, now trading at $110,064 after leaving the $107,500 zone behind. This surge was fueled by an official announcement about the US government delaying the implementation of 50% trade tariffs on European goods from June 1 until July 9, according to a post on his social media platform Truth Social.
The decision was reached as a result of Ursula von der Leyen’s request, which she expressed during a recent phone call with US president Trump.