Prominent Blockchain Tracker Shibburn Reports SHIB Burn Rate Surge

Shibburn has highlighted a significant increase in the SHIB burn rate over the past day, primarily driven by the community’s efforts to burn meme coins.

Despite this, SHIB’s price has seen a modest rise, correlating with the burn rate increase.

SHIB Burns Jump 588%

According to Shibburn, the SHIB burn rate surged by 588.25% in the last 24 hours, with a total of 15,492,566 SHIB burned. The largest transaction saw 13,755,030 SHIB sent to unspendable wallets, with another burn involving 800,000 SHIB.

Weekly burns, however, decreased by 37.88%, totaling 81,938,935 SHIB in the past week. Currently, there are 584,297,362,168,336 SHIB circulating, with approximately 410 trillion burned. Many enthusiasts believe burning a significant portion of the supply is essential for driving SHIB’s price to $0.1 or higher.

SHIB Executive Warns of Crypto Risks

Earlier, Lucie, the SHIB marketing expert, offered a reality check regarding the cryptocurrency market, describing it as “lawless” and fraught with risk.

She emphasized the importance of self-reliance, vigilance, and strategic thinking in navigating the market’s unpredictability and volatility. “Knowledge is your best defense,” she advised, urging all crypto enthusiasts to approach investments wisely and never wager more than they can afford to lose.