Data from etherscan shows that over the past 24 hours, a total of 706.1 million SHIB tokens have been sent to a "null address" and taken out of circulation permanently.
Eight transactions came from eight different addresses. The largest one carried 692,937,338 SHIB, and the smallest transferred only 55,632. All transactions aside from this one and two more carried at least one million tokens.
Twitter account "Shibburn" reported one of those recent "burn" transactions carrying 1,050,000 SHIB.
In the past hour, there have been a total of 1,050,000 $SHIB tokens burned and 1 transaction. #shibarmy— Shibburn (@shibburn) December 23, 2021
Meanwhile, according to CoinMarketCap, the second biggest meme coin has started showing small signs of growth.