The SHIB burn rate now skyrockets to over a whopping 65,000%, a new high according to data provided by transaction tracker.
According to data from the Shibburn transaction tracker, which monitors SHIB burn transfers, the SHIB community has achieved a remarkable new high in the burn rate over the past day by burning several million Shiba Inu coins.
However, despite this significant spike in the burn rate, the price of SHIB has declined by 3%.
The data reveals an astonishing 65,529.67% increase in the burn rate, with over 2,652,095 SHIB tokens sent to unspendable blockchain wallets.
There have been six burn transactions in total, with the two largest transfers involving 1,519,776 SHIB and 1,518,909 SHIB, conducted 22 hours and 5 hours ago, respectively.
Both transactions were initiated by the same anonymous wallet address ending in -521f.
The smallest burn occurred 21 hours ago, involving just 2,054 SHIB.
Notably, on Thursday, there were no Shiba Inu coins burned, leading to a surprising -100% burn rate for that day.
Overall, the Shibburn website indicates that the SHIB community and the development team have successfully disposed of a total of 410,731,247,072,753 SHIB, which is just under half of the original one-quadrillion supply created when SHIB launched in 2020.
In a recent tweet, Lucie, the pseudonymous marketing lead for the Shiba Inu team, highlighted that the layer-2 blockchain Shibarium, launched in August of last year, has reached new highs in several key metrics this week.
One notable metric was the surge in daily transactions, which peaked at 4.77 million on October 24, up from 1.7 million on October 22—a remarkable 180% increase in just two days.
The total transaction count on the Shibariumscan explorer stands at 427,578,464.
Lucie also reported a significant rise in Shibarium accounts, increasing from 127,588 on October 21 to 171,199 on October 25, reflecting a 34% growth.
Lucie expressed excitement over Shibarium’s growth, stating, “It’s thrilling to see as we enter the early days of major developments.”
She noted that all teams are currently busy with ongoing work.
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