The Shibburn data tracker, the darling of the Shiba Inu community, has announced a spectacular spike in the weekly SHIB burn rate, with a staggering half a billion meme tokens moved to unspendable wallets. 🤯
Meanwhile, the price of the second most popular meme-themed cryptocurrency, SHIB, has seen a remarkable surge over the past few days, much to the delight of its holders. 🎉
Half billion SHIB torched
A recent tweet from the aforementioned data aggregator revealed that over the past week, the SHIB community has achieved some monumental burns, sending a mind-boggling 535,850,180 SHIB out of circulation. That’s a whopping 416% increase in the weekly burn rate. However, the past 24 hours have seen a dramatic 98.98% decline, with only 5,111,813 SHIB destroyed. 📉
HOURLY SHIB UPDATE
$SHIB Price: $0.00001271 (1hr -0.86% ▼ | 24hr 2.67% ▲ )
Market Cap: $7,494,012,204 (2.84% ▲)
Total Supply: 589,254,670,558,002TOKENS BURNT
Past 24Hrs: 5,111,813 (-98.98% ▼)
Past 7 Days: 535,850,180 (415.59% ▲)— Shibburn (@shibburn) March 15, 2025
That near 100% drop came a day after the burn rate witnessed a jaw-dropping 27,660% increase, with 503,305,764 SHIB meme tokens being sent to the digital equivalent of a black hole. 🌌
SHIB army demands bigger burns
A single burn on that day transferred 459,294,504 SHIB to be locked out of circulation, the largest burn of the week. Such burns have been orchestrated either by the SHIB team from BONE gas fees on Shibarium or by Shiba Inu rivals trying to steal the spotlight by launching their own meme coins. 🤹♂️
This was followed by three more large burns from the same anonymous whale: 14,624,004, 12,840,092, and 13,670,155 SHIB. Despite these efforts, many within the SHIB army believe that the current burns are too small and that it will take decades for the SHIB price to reach even $0.01. The community and the SHIB team still have a staggering 584,348,475,090,192 SHIB to burn—yes, that many coins remain in circulation. 🤯
In the meantime, the SHIB price has logged a 7.45% rise since Tuesday and is currently trading at $0.00001273. 📈
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2025-03-15 10:54