Shiba Inu (SHIB) burns 110 million tokens

Shiba Inu (SHIB) has mainly seen declines across all metrics since the beginning of April and the new quarter. However, data from Shibburn.com shows that the burn rate of this memecoin has significantly increased by as much as 2,355.86% over the last 24 hours. As a result of this surge, a total of 110,474,927 SHIB have been destroyed, ending up in dead wallets.

Shiba Inu has always relied on the burn rate as a primary factor driving interest in the digital currency. Current data from Shibburn demonstrates clear involvement from ShibArmy members in the deflationary movement, as many wallets contributed to sending SHIB to dead wallets.

One of the most significant transactions involved in this latest burning spree was the transfer of 105,469,546 SHIB by the wallet address with the tag "0x7d0c...b521f." Other transactions, such as 3,370,930 SHIB sent from "0xdfff9e...cca3b" and 1,306,865 SHIB from "0x420801...c6836d," also add to the overall count.

With the recent burning of 110 million SHIB, the total number of destroyed Shiba Inu tokens now stands at 410,724,538,934,667 units, while the circulating supply still amounts to 589,275,461,065,332 SHIB.