SHIB Burn Rate Jumps 26,500%

By - Jai Pratap 16th May, 2023

Over 3 billion Shiba Inu tokens were burned in a single transaction on 15th May, triggering a huge spike in SHIB burn rate.

[{"selector":"#anim-1b0d6d1b-72d9-4738-8d12-d373c98df7d1","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9c03ce5a-6e0a-4e37-998b-2bc6207e750d","keyframes":{"transform":["translate3d(-91.88034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-268aa80f-bfc1-40ee-819b-b4ccbf8912a9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-8.023173235033212%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The spike in burnt coins soared in five digits after a few weeks of minimal activity on the burn portal.

[{"selector":"#anim-661c8d54-ee46-4561-8cad-8600a1994c61","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2104c924-50de-490f-8303-76a5ad43ccd6","keyframes":{"transform":["translate3d(-91.88034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-50e9ceca-cf0a-4ab4-800b-608d6892b802 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Earlier, the Shiba Inu community burned a total of 1.7 billion tokens in 20 transactions.

[{"selector":"#anim-c3f4f818-3587-46bd-a2f8-522c08080dd5","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a0d01ed5-863b-4c93-acac-4c04dbff5def","keyframes":{"transform":["translate3d(-93.68192%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-91d59acf-c1fb-4135-9956-95ebf37f9e40 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-8.91463692781467%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The price of Shiba Inu has not moved much in the last seven days. The token is only down 1% in the last seven days.

[{"selector":"#anim-85c9bf4a-805e-409f-a3a4-498e19a0f94a","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b46bd827-540f-4965-a380-e6867fbe04e8","keyframes":{"transform":["translate3d(-91.88034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e1b90b4-e634-4a0e-bdcc-a28116ef30d5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.551993983513697%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The burning process of SHIB tokens reduces the circulating supply of the cryptocurrency.

[{"selector":"#anim-a3ebdab0-f873-4cde-8874-521ef429ee22","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c8179ac3-4b1f-4aab-a86d-b4c0e4076ef6","keyframes":{"transform":["translate3d(-91.88034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0cae2a2a-b6e6-4a15-ab0d-286527e17be3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

A total of 410.6 trillion Shiba Inu tokens have been burned from the initial supply of the meme cryptocurrency.

[{"selector":"#anim-3cf75493-6f26-4e11-9d01-8195d3a84641","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1303478e-342a-4818-8f25-af2205346af9","keyframes":{"transform":["translate3d(-91.88034%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-32107124-3f82-483d-8571-adc257a98624 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Shiba Inu has a total circulating supply of 589.5 trillion tokens.

[{"selector":"#anim-864229e0-cd23-43e1-8db8-ddfba750ff58","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-44cfab56-9ece-4041-86ff-b836b443831d","keyframes":{"transform":["translate3d(-88.67521%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-254f5dd9-7843-43b5-a04c-768e1636f4ea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-ff6c9c55-6157-48bf-855d-07197eb6a459","keyframes":{"transform":["rotate(-540deg) scale(0.1)","none"],"opacity":[0,1]},"delay":0,"duration":1000,"fill":"both","iterations":1}] Read More Crypto Stories...