Shibburn shared that after more than 133 million meme tokens were recently burned, the burn rate of the Shiba Inu has risen to over 240 percent.
The burning rate of Shiba Inu (SHIB), which closed the last week with Dogecoin with a rise, is increasing. The popular meme token, Shiba Inu, recently burned again.
SHIB Burning Occurred in 18 Transmissions
After a total of more than 133 million Shiba Inu tokens were locked in dead-end wallets, as detected by Shibburn, the overall burn rate of the data-sharing resource SHIB increased by 242.50 percent.
Burning this amount of SHIB and increasing the burning rate could be done in 18 transactions by various companies and individuals who wanted to reduce the circulating supply of SHIB. According to Shibburn data, 224,139,615 SHIB burns were performed in the last 24 hours.
Previously, online store Shib SuperStore, run by game developer Travis Johnson for smartphones, tweeted in August that it managed to burn over 14 million SHIBs through an affiliate program with Amazon. The founder of the incineration project believes Amazon is a solid log burner and remains committed to reducing the circulating supply of Shiba Inu.
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