SHIB Burns Skyrocket 65,529%, Here's How Much SHIB Set on Fire

According to the data provided by the Shibburn transaction tracker which monitors SHIB burn transfers, in the past day, the SHIB army has managed to push the burn rate of their favorite meme cryptocurrency to an impressive new high.

That was the result of burning several million Shiba Inu meme coins. Meanwhile, despite a large spike in the burn rate, the price did not respond to it positively, staging a 3% decline.

Burn rate spikes by 65,529%

The aforesaid data source shows that over the last 24 hours, the burn rate has increased by a mind-blowing 65,529.67%, with more than 2,652,095 SHIB meme coins transferred to unspendable blockchain wallets.

There have been six burn transactions so far. The two largest of them carried 1,519,776 SHIB and 1,518,909 SHIB, 22 hours and 5 hours ago, correspondingly. Both transfers were conducted by the same anonymous wallet address, ending in -521f.

The smallest one burned a tiny 2,054 SHIB 21 hours ago. Notably, on Thursday, zero Shiba Inu dog-themed meme coins were transferred to dead-end wallets with the burn rate showing a surprising -100%.

Overall, the Shibburn website shows that by now, the SHIB community together with the meme coin’s developer team have succeeded in disposing of 410,731,247,072,753 SHIB in total, which is slightly less than half of the original one-quadrillion-coin supply created with the launch of SHIB in 2020.

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Shibarium scores new records

In a recently published tweet, the pseudonymous marketing lead of the Shiba Inu team, Lucie, shared that the layer-2 blockchain Shibarium launched in August last year has reached new highs on several key metrics this week.

The first one was the surge in the daily transactions – on October 24, this metric reached a peak of 4.77 million. On October 22, this key parameter showed 1.7 million transfers. That’s an impressive 180% increase in just two days. Meanwhile, the total transaction count shown by the Shibariumscan explorer constitutes 427,578,464.

Lucie also pointed out a big surge in accounts on Shibarium, which shows a drastic increase from 127,588 on October 21 to 171,199 on October 25. That is a 34% growth.

Lucie commented that the Shibarium growth has been exciting to watch “as we enter the early days of major developments.” She added that all the teams are snowed under with work at the moment.