Shib burn rate has increased tremendously in past 24 hours after poor weekly burn statistics
The Shibburn Tracker website shows that SHIB, the second largest meme cryptocurrency, has seen an 889% increase in the total burn rate over the past 24 hours.
SHIB burn rate soars nearly 889%
This was the result of a higher amount of SHIB burned since Sunday morning — a total of 64,986,148 meme coins. A total of 50,704,939 were burned in a single transaction.
This is 8 times more than the 8,369,636 coins sent to the Dead Wallet on Saturday. Overall, September has displayed poor statistics on SHIB burns, as only 272.2 million SHIBs were taken out of circulation last week, as reported by U.Today on Sunday.
Amazon burner removes 3 billion SHIB
Game dev Travis Johnson, who is behind the @shib_superstore account, has tweeted that on Sunday, the total amount of SHIB he burned since last October, when his project started, has come close to 2.9 billion coins. On the weekend, Johnson burned the aforementioned 50,704,939 SHIB, worth $666.
As a tool for burning, Johnson uses an Amazon affiliate program that allows him to buy SHIBs with the commission he receives and then burn them.
