The SHIBburn rate spikes 245% as tens of millions of $SHIB get locked away for good
Over 24 million SHIB were transferred to dead-end wallets, but half of those dog-themed coins were burned in a single transaction by an anonymous whale. Despite the major rise in the burn rate, the price remains negative.The tweet of Shibburn shows that during the period of the past 24 hours, a total of 27,575,359 SHIB meme coins have been sent to dead addresses, thus bringing the figures of the burn rate up 244.69% compared to the burned SHIB count on April 20.
Approximately 50% of that burned SHIB stash was moved to a dead wallet in a single transfer. An anonymous wallet ending in -47ab0f transferred 14,239,888 Shiba Inu. On the previous day, the SHIB army managed to burn a lot less, like 9,000,000 SHIB in total; however, the burn rate rise was as high as 3,100%. Still, since there are still 574,067,791,438,648 Shiba Inu circulating out there, all these burns are tiny, no matter how high the percentage rate jumps, and hardly have any effect on the Shiba Inu price.
Over the past seven days, 1,826,262,961 SHIB have been removed from circulation in total, according to the tweet.
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