After Twitter added the Dogecoin (DOGE) logo to its design, serious burns began to take place in Shiba Inu (SHIB).
As of last night, the DOGE logo was added to Twitter’s design. After the famous businessman Elon Musk bought Twitter, there was a stir in many dog coins. But these memecoins, which have been accumulating for a long time, have priced in seriously, especially after Twitter took such a step. SHIB, the most popular dog coin after DOGE, has made great gains. The re-trend of such memecoins has also triggered the excitement in crypto investors. Also known as one of DOGE’s main competitors, SHIB drew attention with its “burning process” in the last 24 hours.
Burning Process Continues in Shiba Inu
After the launch of Puppynet on March 11, the amount of SHIB burned daily and weekly began to increase rapidly. Hundreds of millions of SHIBs have been burned almost daily since then. This time is one of the exceptions, as less than 20 million SHIBs are sent to dead wallets. Meanwhile, the dog-themed entity has seen significant growth over the past week.
According to a recent tweet by a Shibburn follower, the total amount of SHIB removed from the circulating supply in the last 24 hours is 15,139,646 SHIB in just four transactions. Over the past week, approximately 280 million SHIBs have been sent to burn addresses to be locked in there without any chance to withdraw or spend money.
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