SHIB Price Experiences 1411% Surge in Burn Rate as a Zero Disappears from Shiba Inu
The burn rate of the meme-inspired cryptocurrency Shiba Inu (SHIB) has experienced an astonishing surge of 1411% within the past 24 hours, resulting in the removal of a staggering 61 million SHIB tokens from circulation. This sudden increase in burning has sparked discussions within the SHIB community, especially since the burn rate remained negative throughout the day.
It is worth noting that two wallets, with the addresses 0xf8791b43…ccbb3 and 0x0327cb7f…76c9f, played a significant role in a massive burn, utilizing 27 and 21 million SHIB tokens in a single transaction. This substantial burn has played a vital role in the recent advancement of the SHIB burn rate.
As the excitement surrounding the Shiba Inu burn continues, a total of 410.7 trillion SHIB tokens have been permanently removed from the initial supply.
Amidst this remarkable surge in the burn rate, the Shiba Inu price is on the verge of a historic moment, as it is poised to drop one more zero and briefly touch the $0.00001 mark. This psychological milestone, eagerly awaited by the SHIB community, evokes a mix of hope and doubt in the world of cryptocurrencies.
Currently, the Shiba Inu price has increased by 3.89% in the past 24 hours, trading at $0.000009323. The trading volume has also experienced a significant increase of 52.89%. Furthermore, the recent price surge has propelled this meme-based crypto token to the 19th position, with a market cap of $5.4 billion.
When looking at other meme coins, Dogecoin (DOGE), the pioneer in this category, holds the 11th spot with a price of $0.08128. It has seen a slight increase of 0.1% in the past hour and a 3.9% increase over the past seven days, boasting a market cap of $11.6 billion.
Other players, such as Bonk (BONK), have experienced a significant 17.1% increase over the week, while CorgiAI (CORGIAI) has had a modest 0.6% weekly growth. On the other hand, Pepe (PEPE) and dogwifhat (WIF) show different trends, highlighting the ever-changing and sometimes unpredictable nature of meme coins.