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SHIB Burns’ 95.55% Collapse Fails to Stop This Bullish Development: Details
The Shiba Inu community has been under a tremendous amount of stress and uncertainty as the cryptocurrency’s burn rate has seen an extraordinary collapse, plummeting by a whopping 95.55%. However, this devastating crash in burn rate seems to have failed to put an end to this bullish development.
Data provided by Shibburn reveals that the seven-day SHIB burn rate has been declining, with a massive drop of almost 100% over the past week. Moreover, the hourly SHIB update displays an astonishingly low daily burn rate of merely 87.60%, as well as a drastic fall to -95.55% in just the last 24 hours.
Despite this drastic decline in the daily and weekly burn rates, it appears that millions of coins are still getting torched by the community. As per Shibburn’s data, over the past week alone, a staggering 46,451,929 SHIB tokens were sent to dead wallets, effectively being locked away permanently, leaving them out of circulation.
The new Shiba Alpha Layer block explorer has also rolled out in beta and is available for public testing.
Source: u.today
