Millions of Shiba Inu (SHIB) have been permanently removed from circulation in the past 24 hours. 9% Shiba burn from every purchase made using NOWPayments, bringing the Shiba burn rate to over 3,000% since last week. So, does this campaign affect the price?

Shiba Inu token burning operations reach peak

More than 303.68 million Shiba Inu (SHIB) have been burned through community-led activities in the last 24 hours, and the token burn rate has reached an all-time high. Shibburn.com recently announced via Twitter that it had traced five transfers to a dead wallet in the last 24 hours. As a result of these actions, 303,686,273 (303.68 million) Shiba Inus were permanently removed from circulation. According to Shibburn.com statistics, the burn rate has increased by 3043.73% in the last 24, with only 7,703,474 (7.70 million) tokens reported to have been burned. Two large transactions were linked to an unused wallet, causing a sudden increase in burn rate. These processes were completed in approximately 9 hours. In the first transaction, 290,590,004 (290.59M) SHIB was permanently removed from circulation, and in the second transaction, 10,000,000 (10.0 million) tokens were permanently removed from circulation.

What was the impact of the Shiba token burn campaign on the SHIB price?

SHIB price regained a market cap of $15 billion and reached $0.00002791 on March 29. Compared to the previous day, meme token 24-hour trading volume increased by approximately 239 percent to $3,757,221,328 ($3.75 billion).#SHIB #Bitcoin #btc $SHIB