The burn rate for SHIB has significantly increased following the announcement of early access to the SHIB Metaverse. Over 23 million SHIB have been burned in the last 24 hours, representing a 360% surge. Despite a subsequent drop in the burn rate, the SHIB community remains optimistic about the long-term impact of burning coins on the price.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The tracking platform reported that the burn rate has significantly increased since last morning, a day after the SHIB team announced the opening of early access to the SHIB Metaverse.The aforementioned data source revealed that over the past 24 hours, the pace at which SHIB meme coins have been leaving the circulating supply has increased by nearly 360% with a total of 23,726,896 Shiba Inu.'Rich Dad Poor Dad' Author Doubles Down on His Bitcoin $350K Prediction for 2025 XRP: Here's What Happens if This Resistance is Broken, Finally, Ethereum (ETH) Is Waking Up, Growth of US Dollar Index (DXY) Is What Suffocating BitcoinThe largest meme coin lump burned in a single move was 22,988,505 SHIB. For the past week, 3x coins were shoveled to unspendable wallets, leaving the market forever. Despite the fact that 66,799,664 SHIB got destroyed, the burn rate has dropped by 47.37%, according to the Shibburn tweet.The ultimate goal of burning the coins is the substantial reduction of the supply in circulation, which may potentially lead to a large SHIB price increase. So far, nearly half the initial quadrillion supply has been burned. That constitutes 410,742,899,523,458 SHIB with 584,158,144,524,778 SHIB still in circulation, of which 5,098,955,951,762 SHIB have been staked., a virtual space for SHIB users, which had been in development for several year
SHIBA INU SHIB BURN METAVERSE CRYPTOCURRENCY MARKET DECENTRALIZED FINANCE
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shytoshi Kusama Triggers SHIB Army With 1 Billion USD Wallet SHIB Burn TweetShiba Inu lead developer issues comment on massive SHIB burn rumor
Read more »
Mammoth 144,045% SHIB Burn Jump Stuns Shiba Inu Community: DetailsRecent series of massive SHIB burns continues as burn rate soars by almost 145,000%
Read more »
Shiba Inu Burn Rate Skyrockets 486% as 1.4 Billion SHIB VanishesShiba Inu also reporting 396% surge in whale activity
Read more »
Shiba Inu Torches 51,763,782 SHIB as Burn Rate Soars 1,068%Shiba Inu just torched over 51 million tokens in push for market rebound
Read more »
SHIB Burn Rate Jumps 515.33% - Will Price Follow Suit?Shiba Inu community tenaciously continues to move coins out of circulation, 70,605,175 SHIB torched in one go
Read more »
Major Twist in Shiba Inu (SHIB) Burn Rate Can Trigger Price SurgeShiba Inu low metrics might fuel bullish rebound soon
Read more »