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Shiba Inu Burn Rate Jumps 35,500% as Millions of SHIB Are Sent to Dead Wallets

Fri, 04/07/2023 - 11:49
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Tomiwabold Olajide
Shiba Inu (SHIB) burn rate made enormous recovery
Shiba Inu Burn Rate Jumps 35,500% as Millions of SHIB Are Sent to Dead Wallets
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The Shiba Inu burn rate saw an enormous recovery after plunging below zero the prior day. The burn rate jumped as much as 35,508%, as the SHIB burn website reports 17,804,606 SHIB burned in the last 24 hours.

Forty-eight hours before, only a meager 50,000 SHIB worth $0.55 were burned, according to data provided by Shibburn on Twitter.

SHIB Burn Rate Plunges This Much as Less Than 100K Shiba Inu Gets Burned

At the time of writing, SHIB was marginally up in the last 24 hours at $0.0000109. According to crypto data tracker WhaleStats, ETH whale "BlueWhale0073" just bought 148,782,308,867 SHIB worth $1,651,483.

Enkrypt, a Web3 wallet created by MyEtherWallet to support Polkadot, Ethereum has announced it will soon support the Shiba Inu ecosystem and Shibarium.

SHIB adoption soars

Shiba Inu can now be used to pay at the Radisson Hotel in Georgia thanks to Binance Pay's partnership with CityPayio. The partnership allows users in Georgia to now spend crypto at over 600 merchants to purchase everyday goods and enjoy life's luxuries.

In related news, Travala, a crypto-friendly travel booking platform, recently launched an affiliate program for the Shiba Inu (SHIB) community.

The SHIB community and other users participating in this program have the opportunity to earn high commissions of up to 5.5% on all reservations made using their special affiliate links.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.