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SHIB Burn Rate Spikes 889%, While Amazon Burner Removes Almost 3 Billion SHIB in Total

Mon, 09/12/2022 - 12:43
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Yuri Molchan
Shib burn rate has increased tremendously in past 24 hours after poor weekly burn statistics
SHIB Burn Rate Spikes 889%, While Amazon Burner Removes Almost 3 Billion SHIB in Total
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The website of the Shibburn tracker shows that over the past 24 hours, the total burn rate of the second largest meme cryptocurrency, SHIB, has gone up by a staggering 889%.

SHIB burn rate soars nearly 889%

This was the result of a higher amount of SHIB burned since Sunday morning — a total of 64,986,148 meme coins. A total of 50,704,939 were burned in a single transaction.

Compared to 8,369,636 coins sent to dead wallets on Saturday, this is an 8x increase. Overall, September has demonstrated poor statistics on SHIB burning, as merely 272.2 million SHIB were removed from circulation over the past week, as reported by U.Today on Sunday.

Image via Shibburn

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Amazon burner removes 3 billion SHIB

Game dev Travis Johnson, who is behind the @shib_superstore account, has tweeted that on Sunday, the total amount of SHIB he burned since last October, when his project started, has come close to 2.9 billion coins. On the weekend, Johnson burned the aforementioned 50,704,939 SHIB, worth $666.

As one of the tools for burning, Johnson uses an Amazon affiliate program that allows him to buy SHIB with the commissions he gets and then burn them.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at