1,173,981,855 SHIB Gone, Burn Rate 933% Up, But Here’s Big Nuance

Data shared by the Shibburn tracking platform unveiled that a staggering amount of SHIB meme coins has been burned recently – more than one billion SHIB.

However, despite the massive amount of meme coins that were burned and the impressive surge in 3-digit burn rates, there is a significant nuance to these statistics that makes the 1 billion SHIB result seem slightly different.

1.2 billion SHIB destroyed

According to a recent tweet published by the aforementioned data source, the SHIB community has succeeded in removing a mammoth amount of meme coins from the circulating supply this time – a whopping 1,173,981,855 SHIB.

The burn rate skyrocketed to 933.05% over this outstanding burn activity outcome. However, the trick is that this massive SHIB destruction has taken place over the past seven days. Approximately, half of this 1.7 billion SHIB was transferred to an unspendable blockchain wallet in a single transfer.

It took place yesterday, and it pulled 515,084,781 SHIB into a virtual furnace. Over the past 24 hours, the result is significantly lower, at 3,025,916 SHIB, with a daily burn rate of 99.41%.

By now in total, a massive amount of 410,750,069,414,086 SHIB has been burned out of the SHIB supply circulating in the market. 584,523,662,479,964 SHIB remain in circulation.