Shiba Inu (SHIB), a popular Ethereum-based meme coin has sent the cryptocurrency community and inves

Shiba Inu Performs Another 8 Billion SHIB Burn

Data from Shibburn has revealed an impressive rise in the Shiba Inu token burn rate. The platform shows that the burn rate has increased by a whopping 161,540% over the past 24 hours.The rise in the cryptocurrency’s burn rate was due to the massive token burn that was carried out by the Shiba Inu team. The team made yet another significant burn, which saw over 8 billion SHIB tokens being destroyed. 

Related Reading: Shiba Inu Team Carries Out Massive SHIB Burn, Triggers 779,000% Spike

According to the platform tracker, the team burnt approximately 8,533,564,693 SHIB valued at $90,711. The data indicates that the team sent the 8.53 billion SHIB tokens to the dead wallet in a single transaction earlier today at precisely 00:30 UTC.
Meanwhile, the website showed that a total of 8,593,932,621 SHIB was burned over the past 24 hours. So far, the total amount of SHIB tokens burned is currently sitting at approximately 410.68 trillion since it was launched.