Over the last seven days, over 1,214,431,010 SHIB tokens were burned in 121 transactions, shows the Shibburn Twitter. It represents over 100% rise from the amount burned in the last week.
The latest report shows that 542 million SHIB, or more than half a billion, were transferred to dead wallets in the previous week. These numbers add up to billions of SHIB burned at the start of August. The burning of SHIB has resulted in the rise of burn rate, which was low earlier. Data from the Shibburn website shows that the SHIB burn rate was increased by 5.73%.
Shytoshi Kusama, the leading developer of Shiba Inu calls the burning trillions of Shiba Inu a “true community endeavor.” The developer believes the project is growing in different directions. Kusama also cautioned that it could take some time as he hopes the timing is in their favor.
In 11 transactions, more than 215,346,231 SHIB tokens were burned in the past 24 hours. In a single transaction, 1 million SHIB tokens were transferred to dead wallets in the last hour. The SHIB army is obsessed with the burning of Shiba Inu, and they wish to see burns reach trillions. Shibarium and ShibaSwap 2.0 will play a major role in the analysis of trillions of SHIB burning.
At the time of writing, the price of Shiba Inu stood at $0.00001258, increasing by 5.43% in the last 24 hours. After the huge sell-off on August 26 and as the crypto-assets attempted a rebound, the market experienced a slight selling pressure. Moreover, the data from WhaleStats reveals that the top 100 ETH whales are holding SHIB worth $148,354,507. BONE, the governance token of Shiba Inu, was trading in the red zone at the time of writing, considering the latest sell-off.
Source: https://www.thecoinrepublic.com/2022/08/30/approx-1-2-billion-shib-burned-in-just-a-week-a-100-increase-from-last-weeks-rate/