According to data from SHIB burn tracker Shibburn, the SHIB burn rate has jumped by over 3,500% when compared to the previous 24-hour period, as 9 million tokens were burned. While the figure is at first significant, it’s worth noting that it’s relative to the previous day. When looking at SHIB’s total circulating supply, the figure is relatively low.

Data from the Shiba Inu burn tracker revealed that the meme-inspired cryptocurrency’s community has burned around 1.8 billion SHIB tokens over the past week, and that since the cryptocurrency was launched around 410.63 trillion tokens have been destroyed, from a total supply of 1 quadrillion.