SHIB Burn Rate Rises 1,086% with 23,729,119 SHIB Tokens Destroyed

The Shibburn portal, which tracks transactions removing Shiba Inu meme coins from circulation, has shared an update about a substantial four-digit increase in the daily burn rate of the second-largest meme coin, Shiba Inu.

Meanwhile, the SHIB team has recently published an update, celebrating the recent surge in SHIB holders around the world.

Burn rate jumps by 1,086%, 23.7 million SHIB gone

The above-mentioned data source spread the word about a massive single-day increase in the SHIB burn rate. Over the past 24 hours, this metric has surged by slightly over 1,086%. This became possible thanks to 23,729,119 SHIB coins getting burned in total.

This cumulative burn contained 10 burn transactions, where the largest ones carried millions of SHIB to unspendable wallets. The largest transfer moved 14,235,163 SHIB out of circulation. It was followed by burns of 1,942,910 SHIB and others. The latest burn transaction carried 6,359,832 SHIB to a dead wallet.

By now, the community has succeeded in burning 410,754,609,891,520 SHIB since May 2021. The main credit for this goes to Vitalik Buterin, who received half of the initial quadrillion SHIB supply from SHIB founder Ryoshi. Buterin burned 90% of that “present” and donated the rest to charity.

The number of SHIB holders keeps growing monthly

Earlier this week, the @Shibizens X account linked to the Shiba Inu developer team published a report about the recent increase in SHIB wallets. This metric has recently surged to 1,558,200, with monthly increases varying between 8,500 and 12,000 wallets.

Among these wallets, the Top 10 hold 62.65% of the SHIB supply, with the burn wallet holding the largest amount of meme coins, followed by top crypto exchanges: Binance, Bybit, Robinhood, etc.

Besides, the report says that the number of SHIB held on exchanges has been shrinking and, by now, has dropped to 80.9 trillion meme coins. Large whales have been steadily withdrawing their SHIB coins from various exchanges.