Hundreds of millions of Shiba Inu have been burned in past seven days, according to recent report
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A recent tweet published by the Shibburn crypto tracker shows that the Shiba Inu community has managed to remove a massive amount of meme coins from the circulating supply over the past week. This happened while the SHIB price has performed a 5% increase, targeting a higher rise in light of recent events.The Shibburn platform has shared that within the past seven days, a substantial chunk of meme coins, containing 322,810,754 SHIB, has been transferred to unspendable blockchain wallets and locked there for good. This has pushed the weekly burn rate up 96%.
As for the past 24 hours, during that period, a total of 58,998,499 SHIB were removed from the circulating supply so far. The daily SHIB burn rate, therefore, has plunged by 46.6%. These burns were conducted in two transfers of 48,220,722 SHIB and 10,777,777 SHIB.As for March, last month, the amount of burned SHIB surged to more than 15 billion meme coins.
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