Advertisement
AD

Main navigation

SHIB Burn Rate Jumps 584% as Millions of SHIB Sent to Dead Wallets

Advertisement
Mon, 17/10/2022 - 9:54
SHIB Burn Rate Jumps 584% as Millions of SHIB Sent to Dead Wallets
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Per the Shibburn website, the burn rate of Shiba Inu has increased by 584% as millions of SHIB have been sent to dead wallets within the last 24 hours.

Advertisement
Shibburn
Shibburn Tracker, Courtesy: Shibburn.com

The Shibburn Twitter handle reports over 50,802,530 SHIB burned in six transactions over the last 24 hours. On Oct. 16, 10,757,815 SHIB tokens burned in six transactions were reported by the Shib burn initiative.

Related

In the past week, 395,803,998 SHIB tokens were burned in 48 transactions, adding up to the hundreds of millions of SHIB burned since October's start.

So far, 410,382,016,984,249 SHIB have been burnt from the initial supply of 1 quadrillion.

Whales making move on SHIB

Shiba Inu large holders, or whales, seem to be making moves on the market, as evidenced by a mild increase in large transactions.

According to IntoTheBlock, large transaction surges are linked to increased activity from whales, who are either buying or selling, and a transaction is generally more than $100,000. In the last 24 hours, large transactions were up 31% as Shiba Inu sustained above the $0.000010 mark.

Related

At the time of publication, SHIB was trading at $0.0000103, marginally down in the last 24 hours. Around this time last year, Shiba Inu kickstarted a bull run and resolved a bullish pennant, which culminated in its present all-time high of $0.000088.

Shiba Inu remains down nearly 88.36% from this peak at current prices, being no different from other cryptocurrencies buffeted by bearish market conditions that have been prevailing since the start of 2022.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD