- Nearly 13.6 billion Shiba Inu (SHIB) tokens have been burned in the last 24 hours.
- The SHIB team emphasized burning 10 trillion SHIB every month in 2024.
Shiba Inu, the second-largest memecoin by market cap, has seen a surge of over 22445% in its 24-hour burn rate. This surge occurs as an aftermath of the SHIB team’s massive burn of 13.4 billion SHIB, worth $466K at current prices, in the last 12 hours.
On X, Shiba Inu’s lead marketer Lucie confirmed the burn of the ecosystem’s three tokens — SHIB, BONE, and LEASH — through four large transactions via ShibaSwap in the last 12 hours.
| TOKEN | BURN COUNT |
| Shiba Inu (SHIB) | 13,46,40,02,390 SHIB (~$466K) |
| Bone ShibaSwap (BONE) | 19,551 BONE (~$23.4K) |
| Doge Killer (LEASH) | 28 LEASH (~$21.2K) |
SHIB During the Memecoin Season
Memecoins—both dog-themed and frog-themed—from Ethereum and Solana networks have topped the headlines everywhere in the crypto realm with their incredible rallies. Remarkably, the price of Shiba Inu pumped 274.45% over the past month, bolstering its spot in the top 10 large-cap cryptocurrencies in the world.
As expected, the surge in burn rate did not cause any uptick in the memecoin’s price. At the time of writing, SHIB traded at $0.00003443 after a decrease of 1.43% in the last 24 hours. Currently, there are 589.29 trillion tokens in circulation with a market cap of $20.38 billion, as per CoinMarketCap.
Meanwhile, the Shiba community anticipates witnessing yet another event — the listing of BONE on Binance. Currently, BONE stands as the third most-voted token on the exchange’s Futures Next voting platform. Lead developer Shytoshi Kusama is up on the move to urge their community to catalyze the process with higher votes.
Disclaimer: This article is for informational purposes only. It is not intended to be, nor should it be construed as, investment advice, financial guidance, or a recommendation to make any specific decisions. Readers are encouraged to conduct their research.
A perpetual learner who loves writing. Passionate about investing her time and zeal to explore the crypto world. Curiosity and creativity are her superpowers.
