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According to the data revealed by Shepburn, during the past day,... Notable meme coin burn rate The Shiba Inu has shown a tremendous accident. However, the currency price reacted unexpectedly.
SHIB price challenges SHIB burns
A recent tweet posted by the aforementioned data source revealed that over the last day SHIB's burn metric has dropped by more than 55%. The total amount of meme-inspired coins burned in this process was 9,380,103 SHIB.
The largest single copy transfer was 8,910,223 SHIB coins. One day ago, the largest burn transaction transferred 18,973,108 SHIB and 1,000,000 SHIB to unspendable blockchain wallets.
As for the weekly burn rate, it has now shown a decline of approximately 35% with a total of 67,808,766 SHIB, according to the tweet.
As U.Today recently reported, some members of the SHIB community have begun calling on the SHIB team to speed up this process and begin locking much larger amounts of SHIB into blocked wallets. They believe that burning between 35% and 90% of the circulating supply would push the price of SHIB significantly higher, perhaps even allowing the meme to reach $1. An X poll has been prepared to vote on this issue.
Currently, the circulating supply constitutes 584,209,136,211,127 chips. However, the SHIB team has responded several times that the only way to increase the amount of meme coins destroyed is to dramatically increase the utility of the Shibarium.
Meanwhile, SHIB's price showed an 8.2% rise over the past 24 hours but fell slightly earlier today.
Related to
Chitoshi Kusama issues a critical warning about fraud
The mysterious leader of the SHIB development team, Chitoshi Kusama, posted a tweet to warn the Shiba Inu community of the potential scams they are likely to face now that the TREAT token has finally been released.
Shytoshi commented on a tweet issued by the @susbarium account associated with Team SHIB that usually warns SHIB fans and investors of various scam attempts. This time, on February 14, it announced the long-awaited launch of the new TREAT token on several centralized exchanges.
TREAT will play an important role in the SHIB ecosystem, including rewards on the Shibarium dex, governance, and voting on various decisions. Chitoshi Kusama warned that many scammers are now likely to start luring people into purchasing TREAT tokens. He said on Twitter, addressing the community: “Do not be deceived.”
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