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Shiba Inu Sees Nearly 100% Weekly Burns, What's Next on SHIB Price?

According to the Shibburn Twitter handle, a total of 223,264,370 SHIB tokens have been burned and 51 transactions have been made in the last seven days.

In the week before, only 106,780,540 SHIB tokens were burned and 29 transactions were made. The current weekly figure represents a nearly 100% increase in tokens burned over the said timeframe.

Likewise, the number of transactions carrying SHIB to be burned is showing a corresponding increase of almost the same magnitude.

In the week, U.Today reported that SHIB recorded its highest daily burn amount since Oct. 12, with 134 million SHIB being burned. After this feat was achieved, the SHIB daily burn amount returned to its former low levels.

In the past 24 hours, only 1,099,842 SHIB tokens were burned and five transactions were made. The meager burn amount is reflected in the burn rate, which is 92.07% in the last 24 hours.

(By Tomiwabold Olajide)

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