Over 100 Million SHIB Burned This Week, Here’s What Turn Shiba Inu Price Took

Shibburn tracking platform has issued an X post informing the crypto community about the number of SHIB meme tokens that have been scorched over the last week and within the past 24 hours.

More than 100 million SHIB removed

The Shiba Inu community has managed to dispose of 130,903,382 SHIB over the past seven days in total, but this was not enough to keep the weekly burn rate up after billions of SHIB were removed from the supply on a weekly basis earlier this fall. Currently, the weekly burn rate shows minus 43.33%.

As for the SHIB lump transferred to “inferno” blockchain wallets since last morning, this figure constitutes 5,947,922 SHIB, which is minus 34.98% for the daily burn rate. This amount of SHIB was destroyed in four transactions, two of them carrying 4,676,501 and 1,234,567 Shiba Inu meme coins.

Earlier this week, the burn rate of Shiba Inu demonstrated astounding surges by 47,872% with 28,129,380 SHIB destroyed and 456%, when 11,134,759 SHIB coins were locked in dead-end blockchain addresses.

Shiba Inu price weekly performance

Since Wednesday this week, the second largest canine cryptocurrency by market capitalization value SHIB gained 7.79% as it rose from $0.00000773 to the $0.000008834 level, where it is changing hands at the time of this writing.

This week, the Layer-2 solution Shibarium demonstrated several new highs — the total count of daily transactions surpassed the $4,100,000 milestone. Daily transfers also saw a major rise, reaching a peak of 43,690 on Nov. 23, according to the Shibariumscan explorer.

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.