Shiba Inu Burn Rate Spikes by 230% as 357 Million SHIB Sent to Dead Wallet in 24 Hours

according to Shibburn website, The burning rate of Shiba Inu has increased significantly in the last 24 hours. Shibburn’s Twitter handle reported that about 8 hours ago, 219,660,376 SHIB tokens were burned and more than 16 transactions were made. This number is currently increasing.

According to the Shibburn website, at the time of publication, the Shib burn rate showed a 230% increase, but 357 million Shibs burned.

Over the last 24 hours, there have been a total of 219,660,376. $ SHIB Burned tokens and 16 transactions.visit https://t.co/t0eRMnyZel To view the total total of #SHIB Burned tokens, circulating supply, etc. #shibarmy

Shibburn (@shibburn) July 1, 2022

A staggering 4,53,606,683 SHIB was sent to the dead wallet in June due to the Shiba Inu community’s enthusiasm to burn tokens, as with 400 transactions.

By sending the tokens to a dead address or crypto wallet, or by burning them, the tokens are permanently removed from distribution. In this case, Shiba Inu Burning is a community-wide initiative aimed at reducing the total supply of SHIB.

FCF Pay indicates support for BONE

FCFPay, Cryptocurrency Payment Gateway has shown support for BONE by announcing plans to list BONE shortly. In addition, FCF Pay hinted at LEASH support. The exchange has stopped supporting other tokens of the Shiba Inu ecosystem, such as BONE and LEASH, after listing SHIB in April.

It’s great to see FCFPAY’s support for the entire turf ecosystem.

Thank you @fcfpay Notification of efforts for listing $ BONE And also considering $ LEASH..

Trefector = Beautiful It was great to know everyone and the team! https://t.co/YKuQn48LWh

Milkshake (@shibainuart) July 1, 2022

On-chain analytics firm Santiment reports that Shiba Inu’s address activity reached a seven-week high as a result of increased user involvement in the network. According to Santiment, SHIB has grown 35% in this regard.

This continues as the number of Shiba Inu holders continues to grow.according to Whale StatsThe number of SHIB holders is currently 1,190,221, not far from the highest record ever. The Shiba Inu is currently trading at $ 0.00001, a bit higher than it was a day ago.