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Shiba Inu (SHIB) Weekly Burn Drops to Millions, Here's Amount Burned

Sun, 06/11/2023 - 09:35
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Tomiwabold Olajide
Previous weeks have seen amount of SHIB burned reach billions
Shiba Inu (SHIB) Weekly Burn Drops to Millions, Here's Amount Burned
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The Shibburn Twitter account gives the amount of Shiba Inu burned in the last seven days in millions. Shibburn reports that in the past seven days, a total of 282,730,986 SHIB tokens have been burned in 22 transactions.

4 Billion SHIB Burned in Week, Millions More Shiba Inu Tokens Burned Within 24 Hours

Previous weeks have seen the amount of SHIB burned reach billions. In the week before, a whopping 4 billion Shiba Inu tokens were burned.

In the last 24 hours, the amount has remained significant, with 45,125,167 SHIB tokens burned in eight transactions. The Shiba Inu burn rate, however, remains down 87.33% in the last 24 hours.

Shiba Inu rebounds 11%

After the massive sell-off in the past day, Shiba Inu has shown a rebound of about 11%. At the time of writing, SHIB was up 6.87% in the last 24 hours to $0.0000068.

The previous day, Shiba Inu saw a massive sell-off, dropping 21% to lows of $0.00000549. This is because the crypto market saw immense selling pressure as a result of the SEC crackdown, with most altcoins seeing significant losses of up to 25% before rebounding slightly.

As uncertainty and quietness remain in the market, Lucie, a Shiba ecosystem official, has shared the reassuring words of the Shiba Inu lead, Shytoshi Kusama.

Shiba Inu (SHIB) 'Calm Before Storm' Updates Revealed by Shiba Ecosystem Official

According to a screenshot by Lucie, Kusama addresses FUD while hinting at a massive reveal in the coming months, likely in early July.

"Infact when the time is right, the next 'something is coming' trailer will blossom into a showcase of the next addition to our ecosystem and slated for early July. Ill tie it all together and show how we have aligned with the best-decentralized product that covers governance, IRL, MV, blockchain, AI &DAO's in a way that simply cannot be done by anyone else on the planet," Kusama stated.

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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.