Shib Burn Rate Skyrockets 416%5 Billion Shibu Torch

The Shibburn Data Tracker, popular in the Shiba Inu community, spread the word about the big spikes of weekly shib burn rates when five billion meme coins were moved to unadvertised wallets.

Meanwhile, the prices of second-most popular meme-themed cryptocurrency have experienced an impressive surge in the past few days.

500 Million Shivs Torched

A recent tweet published by the aforementioned data aggregator revealed that last week the Shiv community had acquired a massive burn and kicked 535,850,180 Shivs from the circulation supply.

It constituted a massive 416% rise in weekly burn rates. However, over the last 24 hours, the metric has declined, showing a negative of 98.98%, destroying 5,111,813 shives.

A nearly 100% drop occurred the day after witnessing a massive 27,660% increase in burn rates when 503,305,764 Shivmeme coins were squeezed into dead-end wallets.

Shiv forces demand greater burns

One burn created that day kept 459,294,504 shivs out of the circulation. This was the biggest burn of the entire week. Such burns were made by Shiba Inu rivals who tried to attract the attention of the community by the SHIB team from Shibarium’s bone gas fees or by launching their own meme coins.

It was then followed by three other major burns created by the same anonymous whale: 14,624,004, 12,840,092, and 13,670,155 Shiv.

Still, according to comments on the X platform, many people in the Shiv army believe that the current burns are too small, and it will take decades for the Shiv price to reach at least $0.01, unless billions of Shivs begin to be removed from distribution. The community and SHIB team still have a whopping 584,348,475,090,192 shivs to burn. Many coins are circulating at this time.

In the meantime, SHIB prices have risen 7.45% since Tuesday, and at the time of writing, the coin has changed hands at $0.00001,273.