Shibburn platform has announced that the burning of Shiba Inu tokens has seen a significant increase. While SHIB price has shown a gradual increase, the notable increase in token burning rate has attracted the attention of cryptocurrency enthusiasts.
The Shiba Inu cryptocurrency community has been consistently conducting token burning operations in recent days. These burning operations can be interpreted as the community’s efforts to support the SHIB token economy.
According to data provided by Shibburn, as of November 24th, the platform achieved a 128.37% increase in the burning rate by burning 9.13 million SHIB. The total amount of burned tokens reached 410.662 trillion, while the circulating supply was recorded as 580.417 trillion.
Among the recent token burning operations, two notable transactions did not go unnoticed by market participants. In the first transaction, which took place approximately twelve hours ago, an unknown wallet address burned 7.15 million SHIB. In the second transaction, another unknown wallet address burned 2 million SHIB.
At the time of writing, the Shiba Inu price has seen a 1.23% increase in the last twenty-four hours, trading at $0.00000821. Additionally, there has been a significant decrease of 23.11% in trading volume, dropping to $94.83 million. Over the past 30 days, the token price has shown a 9.25% increase, indicating significant momentum in the upward direction, aligning with the recent progress of the Shiba community.