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In the last 24 hours, Shiba Inu burning rate It rose by a staggering 4,100%, with a total of 21,709,094 SHIB tokens permanently removed from circulation.
According to Shepburn X account21,709,094 SHIB were burned in the past 24 hours, representing a 4,100.35% increase in the daily burn rate. This was contributed by one massive burn of 21,088,148 SHIB performed in the last 24 hours.
This massive spike in token burnings is a positive sign for the Shiba Inu community, contributing to a reduction in their overall supply.
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Despite this notable burn rate, the price of the Shiba Inu saw a sharp decline, falling by approximately 11% in the same 24-hour period. This decrease in value comes amid a widespread market sell-off that witnessed a staggering $711 million worth of cryptocurrencies being liquidated. The market-wide downturn has affected many digital assets as investors react to recent macroeconomic concerns.
Shiba Inu up 2,004% in whale movements
Shiba Inu Prices fell along with the broader cryptocurrency market. At the time of writing, SHIB is down 10.43% over the past 24 hours to $0.00002168.
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Meanwhile, Shiba Inu (SHIB) saw a 2,004% increase in large transaction volume over the past 24 hours, indicating huge whale activity. This sudden spike indicates that whales, or large holders, are making big moves as the market experiences a sell-off.
Large transactions, typically defined as those exceeding $100,000, were on the rise. according to IntoTheBlockIts trading volumes reached 34.42 trillion shekels, or $751.22 million, during the past 24 hours. This suggests that large owners are either accumulating or reallocating their SHIB holdings.
This type of activity often indicates strategic moves by whales, who may position themselves ahead of expected market developments or react to underlying market conditions.
According to the official Treat
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