Shiba Inu Burn Rate Increases 333.44% in 24 Hours


This article has been republished with permission from Binance News.

According to CryptoPotato, Shiba Inu (SHIB) has experienced a significant increase in the number of tokens removed from its total circulating supply. This comes after a relatively quiet weekend in terms of trading volume and market activity. Data from Shibburn, a portal that tracks tokenomics metrics for the Shiba Inu project, shows that the burn rate has risen by 333.44% in the past 24 hours. This translates to approximately 181,859,002 SHIB tokens being permanently removed from circulation.

As a result, the total number of tokens burnt from the initial supply now stands at 410,658,785,948,791 SHIB. The remaining circulating supply is 579,540,025,675,322 SHIB, with around 9,801,188,375,885 of these tokens currently being staked, also known as xSHIB tokens. This increase comes weeks after the launch of Shibarium, the layer-two network that the Shiba Inu community had been eagerly anticipating.

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