Since April 1st and the beginning of the new quarter, Shiba Inu (SHIB) has primarily seen bearish declines across all indicators. The meme coin’s burn rate, however, has had a significant comeback, rising as high as 2,355.86% over the previous day, according to statistics from Shibburn.com. Up to 110,474,927 SHIB have been transferred to dead wallets as a result of this rise.
The burn rate measure has always been a key driver behind Shiba Inu’s efforts to rekindle interest in digital money. Members of the ShibArmy have demonstrated a clear dedication to the deflationary approach, as evidenced by the current Shibburn statistics, as several wallets helped deliver SHIB to the dead wallet.
This most recent burn schedule includes a transaction that is really significant: 105,469,546 SHIB were transferred using a wallet address that has the marker “0x7d0c…b521f.” A total of 1,306,865 SHIB from “0x420801…c6836d” and 3,370,930 SHIB transferred from “0xdfff9e…cca3b” are among the other transactions that contribute to the total.
After the most recent 110 million SHIB were burned, the total number of Shiba Inu tokens destroyed is now 410,724,538,934,667, while the number of tokens in circulation is still 589,275,461,065,332 SHIB.
Shiba Inu price reboot
It is generally anticipated that the price of SHIB would rise back to green days in response to this increase in burn rate. As of this writing, SHIB’s price is valued at $0.000027 according to data from the cryptocurrency research portal CoinMarketCap, indicating a 5.95% decrease in the previous day.
Over the past month, SHIB has gone from a low of $0.00001987 to a significant high of $0.00004534. In an attempt to eventually retest its all-time high (ATH), the price of the meme coin may reach its peak due to the influence of SHIB whales and the burn rate measures that are restoring sentiment.
