According to data from #SHIBburn , a transaction tracker monitoring SHIB burn transfers, the SHIB army managed to push the burn rate of their favorite meme cryptocurrency to a new impressive high over the last 24 hours.
This significant increase was the result of burning several million Shiba Inu coins. Despite the sharp rise in the burn rate, the price of #SHIB، did not react positively and recorded a 3% decline.
#BurnRate surged by 65,529%
Shibburn’s data shows that over the past 24 hours, the burn rate increased by an astounding 65,529.67%, with more than 2,652,095 SHIB meme coins being transferred to non-spendable blockchain wallets.
So far, six burn transactions have been completed, with the two largest occurring 22 and 5 hours ago, each burning over 1.5 million SHIB. Both transfers were made by the same anonymous wallet address ending in -521f.
The smallest burn, which occurred 21 hours ago, destroyed just 2,054 SHIB. Notably, no SHIB tokens were burned on Thursday, and the burn rate showed a surprising -100% at that time.
Total SHIB burned
The Shibburn website reports that the SHIB community, along with the meme coin’s development team, has successfully burned a total of 410,731,247,072,753 SHIB. This represents nearly half of the original supply of 1 quadrillion coins, which was created when SHIB was launched in 2020.
New records for Shibarium
In a recent tweet, Shiba Inu’s pseudonymous marketing lead, Lucie, announced that Shibarium, the layer-2 blockchain launched in August of last year, hit new highs in several key metrics this week.
The first milestone was an increase in daily transactions. On October 24, this metric peaked at 4.77 million transactions, a significant rise from 1.7 million transactions on October 22—a 180% increase in just two days. The total number of transactions shown on the Shibariumscan explorer now stands at 427,578,464.
Lucie also highlighted a major surge in the number of accounts on Shibarium, which skyrocketed from 127,588 on October 21 to 171,199 on October 25, marking a 34% increase.
Lucie noted that it has been exciting to witness Shibarium’s growth, especially “as we enter the early days of major development.” She added that all teams are currently hard at work.
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