Shiba Inu Weekly Burn Report

Shiba Inu, one of the most popular meme coins in the cryptocurrency realm, appears to have gained significant traction this week as the token recently embarked on a coin-burning venture. According to numerous reports by CoinGape Media over the past week, the token seems to have noted a colossal upswing in its burn rate, fueling additional optimism for the crypto.

Moreover, according to various pieces of data unveiled by Shibburn recently, the token seems to have noted the aforestated upswing quite a few times over the past week. However, its burn rate noted a downward surge at the time of writing, stirring speculations among market enthusiasts globally.

SHIB Burn Rate: A Closer Look

With the week beginning with Christmas, the SHIB token received its gifts in the form of a whopping 5000% surge in its burn rate on Monday, December 25, propelling immense optimism for the token. Moreover, amid its burn rate surge on Christmas, the token also witnessed a colossal 4 trillion SHIB whale activity, adding additional inferences for the token. Simultaneously, on December 26, the token again witnessed 4 trillion whale activity, garnering even more attention across the globe.

Meanwhile, on December 27, the burn rate again skyrocketed by 1600%, further causing bullish thoughts for the token, followed by another 4 trillion SHIB whale activity on December 29. Intriguingly, amid the whale chronicle on December 29, the Shiba crypto community reportedly burnt over 13 million SHIB, additionally jacking up the SHIB tokenomics.

Lastly, on Saturday, December 30, the community noted another 2700% upsurge in the SHIB burn rate, fueling prominent bullish market sentiments for the token. However, even with such significant burn achievements, the weekly burn rate showcased a 98.29% dip as of writing.

Also Read: Top Analysts Unveil Bitcoin Predictions, What’s Next For BTC Price In 2024?

SHIB Price Plunges Over The Week

According to market charts, the Shiba Inu price portrayed a drop of 3.46% over the past week. Moreover, its price chart on Saturday, December 30, illustrated a decline of 1.45%. However, on Sunday, December 31, the token witnessed a marginal jump of 0.52% and is trading at $0.00001054 as of writing.

Notably, the token’s weekly high over the past seven days was $0.00001108, whereas its weekly low over the last seven days amounted to $0.00001026.

Also Read: Bitcoin & Ethereum Open Interest (OI) And Funding Rates Signals Bullish 2024 Start

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