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Shiba Inu saw it Burn activity surgesthe combustion rate has climbed 3,194% in the past 24 hours. According to Burn Tracker Shibburn, over 521.6 million chip tokens will be permanently removed from the loop during this period. Although the price action of the token is Struggling with bullish sentiment.
Large deals dominate wet bone burning activities
As shown in the data of Shiba Inu burn Tracking website shibburn.comthe latest burn wave is dominated by some big deals. A well-known contributor is a wallet address starting with “0xdb6” that only facilitated burns totaling more than 500 million chips in multiple transactions conducted only in the BA-1 burn address. One of them The largest single burner It reached 310,744,788 humidity, followed by another 107,333,061 chips, and then another 103,276,575 Shib.
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Other wallets also attended the meeting, including “0x28BE” and “0x6176”, each sending wipes tokens to various burning addresses such as CA and BA-2. These contributions, while different from the size of the major whale wallets, together increased the total burns that day to more than 521 million chips. Together, these burning events reflect the push in the Shiba INU community to increase wet shib burns, otherwise There is a lack of noteworthy burns in recent weeks.
Despite the burning efforts, Shib supply still faces a tough battle
Although 521 million wet junk tokens are a significant number of the day, it hardly dents the huge circular supply of Meme tokens, which is currently above 589 trillion tokens. This background leads to the challenges facing current shiba inu tokenomics. Despite positive burns as witnessed in the past 24 hours, the huge supply of tokens is still paying attention to its long-term price appreciation target.
However, the surge in burn rate remains a positive signal, especially from an emotional standpoint, especially now that Shia INU prices are fighting emotions. As SHIB currently trades range between $0.00001225 and $0.0000119, more Shib Burns may bode well for the rest of the new week as its price action moves forward.
As of this writing, Shiba Inu is trading at $0.00001192, down 1.7% over the past 24 hours. Despite the significant increase in combustion activity, the market response was still somewhat static. But more things may have happened behind the scenes.
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Recently, a member of the Zhiba INU community was posted on social media platform X, Impressed by the leadership of the project Developer Shytoshi Kusama still has “multiple sleeves” for the Shiba Inu community. Although no other details are shared, past developments are as follows Shibarium It has affected the price trend. Hopefully any new announcement will restart interest and bring Shiba INU price token to new highs.
Featured images from Unsplash, charts for TradingView
