SHIB Burns Collapse as Price Makes Unexpected Pivot
2024-12-24
Category: None

The Shiba Inu burn rate has displayed a massive decline, according to the data recently shared by the Shibburn blockchain tracker. In the meantime, the SHIB price has shown a movement in a totally different direction.
SHIB burns vs SHIB price
While the burns have collapsed by more than 64%, the Shibburn website says, the SHIB community has succeeded in burning 3,166,691 SHIB meme coins over the last 24 hours.
Six burn transactions over the last day have done the job with the largest ones moving 1,040,537, and 1,008,249 Shiba Inu meme coins.
On Monday, the SHIB army burned slightly more, cumulatively transferring approximately 10,000,000 SHIB to unspendable wallets.
Meanwhile, the burn rate this time is not correlated with the SHIB price. Over the last day, the second most popular meme-themed cryptocurrency Shiba Inu has seen a rise of more than 10%, rising from $0.00002117 to the $0.00002336 price level.
Shibarium approaches big new milestone
The Shibariumscan explorer reveals that the layer-2 blockchain is eyeing a big new milestone. The overall transaction count currently sits at 698,969,876, quickly moving towards the 700 million level.
The daily number of transactions on Shibarium now totals 4.71 million. That is a notable growth since December 12, when this metric comprised 4.58 million transfers. The recently added “latest transaction” section shows 175,088 new transfers. The number of wallets linked to the network now equates to 2,021,457.