Shiba Inu (SHIB) Burn Rate Falls Terribly Despite 111 Million SHIB Burned

• The SHIB burn Twitter site reported that the burn rate had decreased by nearly 90%.
• There were a total of 26 transactions last week that burned 1,178,830,489 SHIB tokens.

The Shibburn Twitter account reports that in the last 24 hours, 111,173,988 SHIB tokens were burnt in 10 separate transactions. Despite the fact that a lot of SHIB was burned, the burn rate for SHIB behaved in an unexpected way.

In the past 24 hours, there have been a total of 111,173,988 $SHIB tokens burned and 10 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more.

— Shibburn (@shibburn) April 10, 2023

The SHIB burn Twitter site reported that the burn rate had decreased by nearly 90%. This is due to three transactions that took place 48 hours earlier and included the burning of almost 1.1 billion SHIB (1,106,171,150).

Massive Burn Last Week

There were a total of 26 transactions last week that burned 1,178,830,489 SHIB tokens. As of today, a total of 410,631,355,779,408 SHIB have been burned, as reported on the Shibburn website.

There has been a 35.08% increase in Shiba Inu this year. After hitting a high of $0.0000117 on April 3rd, Shiba Inu has fallen to a price below the daily moving average of 50. However, it gained some momentum during Easter.

Shytoshi Kusama, the leading member of the well-known Shiba Inu project, took to Twitter recently to send his many followers heartfelt Easter wishes. Shiba Inu is consolidating ahead of a potential breakout from its recent trading range between its daily moving averages.

Moreover, Shiba Inu wants to gain momentum in the coming days with the debut of Shibarium. There has been remarkable adoption of a testnet for Shiba Inu’s forthcoming Shibarium platform.

According to CMC, the Shiba Inu price today is $0.000011 USD with a 24-hour trading volume of $129,626,520 USD. Shiba Inu is up 1.24% in the last 24 hours.