- SHIB burn rate has noted the hike of around 888% on this Sunday (September 11, 2022.)
- Also, the Amazon burner moves out around three billion SHIB in total.
The official website of Shibburn tracker showed the data with the last 24hr spike in SHIB burn rate. A higher amount of SHIB coins, that is ~64,986,148$ memecoins, burned this Sunday morning. Approximately, 50,704,939 were burned in a single transaction.
On this Sunday, Johnson burned the aforementioned 50,704,939 SHIB, worth $666. Johnson uses an Amazon affiliate program (one of the tools for burning) that allows him to buy SHIB with the commissions he gets and then burn them.
In a Tweet shared by Shibburn, a total of $60,848,839 SHIB tokens were burned with 12 transactions.
On the other hand, as per the website the current burn rate of SHIB is around 119.86% with a total of $142,879,399 SHIB coins.
On September 11, 2022 Messari updated that SHIB ranked second among the “up only since cycle low.” The meme coin has surpassed all those who came into its category. This also increases the trust of many investors that in near future this meme coin will face high volatility.
The above chart shows the price fluctuation of the SHIB token in the last seven days. On September 8, 2022 the price of SHIB was noted at $0.00001228 USD, while currently it is trading at the price of $0.000013 USD with the 24 hour down of 1.92%.
Source: https://www.thecoinrepublic.com/2022/09/13/shiba-inu-noted-its-burn-rate-spike-888-this-sunday/