Nearly 13.6 billion Shiba Inu (SHIB) tokens have been burned in the last 24 hours.
The SHIB team emphasized burning 10 trillion SHIB every month in 2024.
Shiba Inu, the second-largest memecoin by market cap, has seen a surge of over 22445% in its 24-hour burn rate. This surge occurs as an aftermath of the SHIB team’s massive burn of 13.4 billion SHIB, worth $466K at current prices, in the last 12 hours.
Source: Shibburn
On X, Shiba Inu’s lead marketer Lucie confirmed the burn of the ecosystem’s three tokens — SHIB, BONE, and LEASH — through four large transactions via ShibaSwap in the last 12 hours.
TOKEN BURN COUNT Shiba Inu (SHIB) 13,46,40,02,390 SHIB (~$466K) Bone ShibaSwap (BONE) 19,551 BONE (~$23.4K) Doge Killer (LEASH) 28 LEASH (~$21.2K)
SHIB During the Memecoin Season
Memecoins—both dog-themed and frog-themed—from Ethereum and Solana networks have topped the headlines everywhere in the crypto realm with their incredible rallies. Remarkably, the price of Shiba Inu pumped 274.45% over the past month, bolstering its spot in the top 10 large-cap cryptocurrencies in the world.
As expected, the surge in burn rate did not cause any uptick in the memecoin’s price. At the time of writing, SHIB traded at $0.00003443 after a decrease of 1.43% in the last 24 hours. Currently, there are 589.29 trillion tokens in circulation with a market cap of $20.38 billion, as per CoinMarketCap.Meanwhile, the Shiba community anticipates witnessing yet another event — the listing of BONE on Binance. Currently, BONE stands as the third most-voted token on the exchange’s Futures Next voting platform. Lead developer Shytoshi Kusama is up on the move to urge their community to catalyze the process with higher votes.
Disclaimer: This article is for informational purposes only. It is not intended to be, nor should it be construed as, investment advice, financial guidance, or a recommendation to make any specific decisions. Readers are encouraged to conduct their research.
