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The SHIB Army maintains its commitment to burn SHIB.
SHIB burn rate is up 1395.89% over the past 24 hours, per data from Shibburn.com at the time of writing.
The surge comes after the Shiba Inu community collectively sent 37.4 million SHIB to the Burn wallet over the past 24 hours, Shibburn revealed in a tweet today.
In the last 24 hours it was a total of 37,400,646 $SHIB burned tokens and 12 transactions. Visit https://t.co/t0eRMnyZel to see the grand total of #SHIB burned tokens, circulating supplies and more. #shibarmy
— Shibburn (@shibburn) January 9, 2023
Although the total burn is not at the level of late last year and early this year, it is a significant increase from the previous day’s total burn of 2.5 million SHIB.
In the last 24 hours it was a total of 2,500,224 $SHIB Token burned and 2 transactions. Visit https://t.co/t0eRMnyZel to see the grand total of #SHIB burned tokens, circulating supplies and more. #shibarmy
— Shibburn (@shibburn) January 8, 2023
Two transactions accounted for about 85% of the 37.4 million SHIB burns.
The first transaction sent 16.7 million SHIB to the burn wallet at 1:26 UTC. A check on Etherscan shows that the wallet no longer contains a SHIB, but about 125 BONE.
The second transaction from another wallet sent approximately 15 million SHIB to the burn wallet at 3:57 UTC. This address is left with only 0.01 SHIB per Etherscan data.
While some community members have recently voiced complaints about the SHIB burn rate, it’s worth noting that it’s poised to soar when Shibarium launches. As reported on Saturday, the layer 2 solution SHIB will burn with every transaction.
Although there is no set launch date, recent reports suggest that developers are close to rolling out the beta version of the protocol. In particular, they recently clarified that BONE is the only token that users will use for the protocol for gas.
SHIB is currently experiencing a price rally with most of the crypto market. It is up 5.11% in the last 24 hours and is trading for $0.000008854 at press time with 549 trillion SHIB in supply circulating.
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