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Shiba Inu Burn Rate Spikes 190% in 24 Hours: Report

Thu, 06/02/2022 - 11:50
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Yuri Molchan
Recently published report shows that burn rate of Shiba Inu has increased drastically, along with number of SHIB holders
Shiba Inu Burn Rate Spikes 190% in 24 Hours: Report
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The website of the burn tracker Shibburn has shared that the burn rate of Shiba Inu has seen a major spike over the past 24 hours.

Another milestone reached by Shiba Inu is a surge in the holder count, which has come close to 1.2 million.

SHIB burn rate is up 190%

@ShibaInuHodler Twitter user has shared a screenshot from the aforementioned website, showing that the burn rate of the second biggest meme crypto has increased by 189.16% in the past 24 hours.

Over this period of time, according to the Shibburn account of Twitter, a total of 141,010,050 Shiba tokens have been destroyed—sent to dead-end wallets and locked there permanently.

Burning this amount of SHIB has taken merely six transactions this time. The substantial rise in the burn rate took place from the 60 million mark on the chart to 141 million.

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SHIB holder count hits ATH

According to another blockchain data platform, WhaleStats, the SHIB community has reached a new milestone regarding the number of holders of their beloved asset.

As per a recent tweet, the SHIB holder count has demonstrated growth to more than 1,195,000 holders. The exact number, as per the SHIB holder page, is 1,198,132.

As reported by U.Today earlier, since late April, the amount of wallets holding this popular canine crypto has increased by more than 32,000.

As of now, the top 100 Ethereum whales are holding 58,364,331,708,833 Shiba worth $693,254,055.

However, in this respect, Shiba Inu is lagging behind another meme coin, BabyDoge (based on the BNB Chain, while SHIB is built on Ethereum). Earlier this week, data was published that the holder count of BabyDoge had reached 1,550,000, adding a whopping 200,000 holders since February.

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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