Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
In a tweet posted earlier today, Shiburn revealed that over the past day, the SHIB community was able to do just that Get rid of a large amount of coinswhich led to it being taken out of circulation permanently.
Meanwhile, SHIB price made an impressive rally overnight, briefly reclaiming the $0.0000228 level.
Burn rate exceeds 104%
Data published by Shibburn shows that over the past day, the SHIB community has successfully burned 19,291,423 SHIB, moving them to unspendable wallets. This helped dramatically increase the burn rate by over 104%.
However, figures from Shiburn's website show that the actual amount of meme coins burned is slightly larger and constitutes 26,221,803 SHIB. This 104% increase in burn rate was achieved in less than 10 transactions, the largest of which was 11,856,938 executed; 8,910,223; 4,995,759 and 1,754,972 SHIB coins.
The tweet also revealed data about SHIB's weekly burn. According to her, in the past seven days, the SHIB Army has disposed of 86,633,313 SHIB. However, the burn rate decreased by approximately 16%.
SHIB price rises 8.33%
Over the past 24 hours, the second most popular meme-inspired coin, Shiba Inu, showed rapid growth of approximately 8.33%, rising from $0.00002108 to a local high of $0.00002280.
As it rose, SHIB printed a large green candle on the hourly chart, pushing it higher by 4.31%, helping it achieve half of the total rise of 8.33%.
So far, SHIB's price is down nearly 4% and is trading at $0.00002193. In yesterday's rally, the popular meme followed the price path shown by the world's primary cryptocurrency Bitcoin, which briefly topped $100,000.
Related to
Chitoshi Kusama warns society
Earlier this week, the mysterious lead developer of the Shiba Inu, known under the alias Shytoshi Kusama, took to his official X account to warn the SHIB community of potential scam threats. Kusama retweeted the launch of the new Shiba Inu ecosystem token TREAT. The launch took place on January 14 on several large and small centralized exchanges, such as Kraken, MEXC, BitGet, and SuperEx.
Kusama warned the SHIB community not to fall for fake TREAT codes, which many scammers have begun offering in an attempt to capitalize on the launch: “Don't get scammed".
Source link