.SHIBburn rate 708% up after series of drops as millions of $SHIB were burned
According to a recent update on the website of the burn tracker Shibburn, the pace at which SHIB meme tokens have been transferred to dead-end wallets has soared by over 708% in the past 24 hours.
This time, the joined efforts of the SHIB army have made it possible to burn 7,244,258 Shiba Inu in total. This is the first time this week so far that the burn rate has shown a substantial increase. The price of the popular meme coin has not been demonstrating any significant progress as of late. Over the past week, since Thursday, Feb. 16, the coin has lost nearly 8%, dropping from $0.00001368 to the $0.00001260 level.
A drop of over 6% has been observed over the past 24 hours. As the SHIB burn rate often behaves in correlation with the price, recently, it has been mirroring the negative behavior of the SHIB price.
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