Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Shiba Inu has seen millions of tokens removed from its total supply in the last 24 hours, leading to a reduction in the amount of Shiba Inu in circulation.
According to Shibburn179,657,698 SHIB burned in the last 24 hours, with the Shiba Inu burn rate increasing 3,651.09%.
This week saw a return in Shiba Inu burns, with SHIB seeing hundreds of millions of tokens burned, unlike previous weeks when it saw around 100,000 burned in some days.
Over the past seven days, a total of 823,406,713 SHIB tokens have been burned, contributing to a 2,639.08% increase in the weekly burn rate.
This massive amount of SHIB removed from circulation has caused a reduction in its supply, with the total supply of Shiba Inu now at 589,246,377,374,234 SHIB tokens. Over 410 trillion SHIB have been burned from their initial supply of one quadrillion tokens.
Observers will have to watch to see if the current bullish sentiment and its impact on the Shiba Inu price will hold – probably not now, but in the long term.
SHIB price
After two days of drops that spanned Tuesday and Wednesday, Shiba Inu rebounded with the rest of the crypto market. Despite the rebound, Shiba Inu still remains red in the day.
At press time, SHIB was down by 0.73% in the last 24 hours to $0.00000981, with the dream of clearing a zero abortion for the moment.
Shiba Inu is experiencing a lull as the broader crypto market struggles to make a meaningful recovery after last month’s sell-off, with signs of fatigue emerging.
Momentum has yet to return, with Shiba Inu trading below its daily average 50 and 200 at $0.0000106 and $0.0000124, respectively. A return above this could allow SHIB to start a new uptrend. Support is expected at $0.00000837 in the event of a fall.
