Another large portion of SHIB coins has been moved from the circulating supply, while the token shows a rise of over 15%
Crypto tracking service @shibburn spread the word about another large amount of Shiba Inu tokens burned in over 24 hours.
Meanwhile, the second-leading canine cryptocurrency has surged over 15% since Monday.
In total, in February, a total of 1.49 billion SHIBs were destroyed.
49 million SHIB incinerated by the community
@shibburn has published four consecutive tweets, informing the crypto community about the progress in SHIB burn operations conducted recently.
According to these tweets, in the past 24 hours, a total of 45,086,353 Shiba Inu tokens have been sent to “inferno” wallets and withdrawn from the circulating SHIB supply. It took 12 transactions to move that amount of SHIB to unusable digital addresses.
That was followed by three more burn transactions, twice carrying 1,882,892 SHIB.
1.4 billion SHIB burned in February
According to another recent tweet posted by @shibburn, in the month of February the SHIB army managed to destroy a total of 1,495,356,204 Shiba Inu tokens, requiring 252 transfers to accomplish this.
SHIB bullish price action since Monday
The TradingView chart of the SHIB/USDT pair shows that since Feb. 28, the second most popular meme cryptocurrency has surged by 15.35%—from $0.00002289 to the $0.00002641 level.
The rise of Shiba Inu is taking place as part of the broader cryptocurrency market reversing north, thanks to the rising price of Bitcoin. The main digital asset broke above the $40,000 level on Monday, and today it briefly broke above the $44,000 threshold, forcing Ethereum to retake the $2,800 mark and the rest of the crypto market to come back. in the green zone.
