More than 404.39 million SHIB tokens have been taken out of circulation in 24 hours through the burn process. Before today, 303.68 million SHIB tokens had been sent to dead wallets.
SHIB burn tracking website, Shibburn.com tweeted that the community had been able to burn 404,393,504 (404.39M) SHIB in the past 24 hours with five transactions.
Furthermore, ETH SHIBA, a new token pledging its support to SHIB burn, claimed the highest share of burning. Its recent tweet confirmed the figure to be a whooping 400,603,675 SHIB.
It was reported that the new token organised a weekly burn event on 29th March 2022, where the team behind ETH SHIBA sent out 400 Million SHIB to the dead wallet. Shibburn.com also collaborated on the information.
The ETH SHIBA also believed that the token fulfilled its promise of burning SHIB. Since its launch about 20 days ago, ETH SHIBA has been able to burn 1,526,309,086 (1.52B) SHIB.
SHIB Appreciates by 18%, Leads the Market
The Shiba Inu token has experienced a value increase of more than 18%, according to CoinMarketCap. It is currently trading at $0.00002904 on the Binance exchange.
The price of the Shiba Inu (SHIB) cryptocurrency has spiked by more than 18% over the past 24 hours, according to data provided by the crypto ranking website CoinMarketCap. It is trading at $0.00002904 on the Binance exchange at press time.
The dogecoin killer stands in 15th place on the market cap, with its valuation increasing to $15.8 billion. In addition, the meme coin, which made plenty of headlines last year, recently became available on the Canadian cryptocurrency brokerage app, Netcoins.