Shiba Inu Weekly Burn Update: 915 Million SHIB Burned

Shiba Inu, the second largest meme coin, has established itself as a prominent presence in the cryptocurrency world. The team behind SHIB has consistently demonstrated their commitment to its development, as evidenced by initiatives like the Shiba Inu Burn program.

The Shiba Inu burn rate has gained a reputation for its fluctuating nature. Some days witness substantial increases, while others see a decline. Despite this variability, the burn rate has remained relatively steady in recent days, with millions of SHIB being burned daily.

Also read: Major Exchange Witnesses Thousands of Ethereum (ETH) Outflow

According to the latest details from Shibburn’s Twitter account, the burn numbers have gone up to 915,371,832 in the last seven days.

Shiba Inu burn rate climbs to a billion

Details from the tweet reveal that 915,371,832 SHIB were sent to dead wallets in the last seven days. The burn activity happened over 139 transactions. The burn rate is considerably higher as compared to certain weeks where just millions of SHIB were burned in a week.

Also read: Shiba Inu: 85% of SHIB Holders Are in Loss

According to the latest data from Shibburn, the SHIB burn rate has dropped by 89% in the last 24 hours. Only 1.2 million SHIB were sent to dead wallets during this period. Following the recent positive outcome of the Ripple v. SEC lawsuit, the prices of major cryptocurrencies, including SHIB, went up. At press time, Shiba Inu is trading at $0.00000803 with a 2.6% drop in value over the last 24 hours.