Although A Record 1.3 Billion SHIB Were Burned, The Price Of The Token Is In Decline.
Over the last 24 hours, a significant amount of Shiba Inu has been destroyed, yet the token is down 12.10% weekly drop.
Shibburn, a crypto burn tracker, has indicated that a large amount of SHIB tokens — 1,351,643,000 meme tokens – has been taken out of circulation in the last 24 hours.
The value of this quantity of meme coins is $32,155. Several successive transfers stand out from the others in the list of burn transactions published on the website due to their volume.
Three transactions burnt more than 100 million coins, while three others each shifted 210 million to 270 million tokens to a dead-end wallet.
Following the burn tracker’s tweet announcing the 1.3 billion coins, more tweets have appeared in the last few hours informing the community that more tokens have been taken from circulation — 55,402,333, 1,000,000, 20,675,909, and 18,674,658 SHIB.
This brings the overall number of the meme cryptocurrency to 95.6 million.
Despite regular token burning, the meme token price has been unable to rebound from its all-time high of $0.00008845 achieved in late October.
Since April 5, the second-largest meme token has fallen from a high of $0.00002748 to a low of $0.00002385.
SHIB has been down 13.22% in the last four days.
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