Shiba Inu Burn Rate Spikes, Over 4 Trillion SHIB Moved

Over the past 24 hours, the burn rate for SHIB (Shiba Inu) has increased by 42.62%, with approximately 5,312,892 SHIB tokens burned. The current price of SHIB stands at $0.00000802. In a recent tweet, Whale Alert, a prominent blockchain tracker and analytics system, tweeted a significant transaction involving the transfer of a substantial amount of SHIB tokens from Shiba Staking to Binance.

Shiba Inu Burn Spiked

In the last 24 hours, the burn rate for SHIB (Shiba Inu) has surged by 42.62%, resulting in the destruction of around 5,312,892 SHIB tokens. A significant portion of the initial token supply, amounting to 410,648,972,754,754 tokens, has been burned.

This burning process involves the permanent removal of tokens from circulation. As a result, the total supply of the token has decreased. The maximum total supply of the token is currently set at 999,989,401,792,241 tokens, indicating the upper limit of available tokens that can ever exist.

The live Shiba Inu price today is $0.000008 USD with a 24-hour trading volume of $66,994,050 USD. Shiba Inu is up 0.93% in the last 24 hours.

$SHIB Token transferred to Binance

In a recent transfer, 4,000,379,151,023 SHIB tokens, equivalent to approximately 31,709,005 USD has been sent to Binance exchange from Shiba Staking.

The transaction occurred on the Ethereum blockchain, a popular decentralized platform for executing smart contracts and deploying various cryptocurrencies and tokens.

The timestamp provided indicates that the transfer took place approximately three hours and 31 minutes ago as of June 9, 2023, at 09:43:35 UTC. The transaction’s unique identifier, or hash, is 0xdce2a366d11eee71ad75f64eddca826f94dbc79e0209d7a6cb0afc61275e03aa.

Additionally, the transaction fee associated with this transfer amounted to 0.00096713149603614 ETH, which is approximately 1.78 USD.

It is worth noting that this transaction occurs amid an ongoing legal battle involving Binance and its CEO, Changpeng Zhao, with the United States Securities and Exchange Commission (SEC).  Read More About SEC Suing Binance.. The SEC has filed a lawsuit against Binance and CZ, alleging violations of US securities laws.