CandleFocus SHIB Burns Jump 567%, But Here’s Big Price Twist
2025-02-04
Author: Content Editor
The SHIB coin burn efforts have been successful in reducing the circulating supply of meme coins. In the past 24 hours, a total of 4,618,788 SHIB coins were burned, increasing the burn rate by 567.83%. The two largest burn transfers amounted to 1,913,509 and 1,425,595 SHIB coins. Despite the high burn rate, the price of SHIB experienced a sudden plunge of over 31% after a previous increase. The weekly burn rate has seen a significant increase of 3,829.29% with 1,163,645,543 SHIB coins burned. Currently, the circulating supply of SHIB stands at 584,276,060,739,814 coins, with a large portion burned by Ethereum leader Vitalik Buterin. In the past 24 hours, SHIB experienced an 11% plunge in price but has since rebounded slightly. Bitcoin also experienced a spike followed by a decline, with a drop of 3.8% and a current price of $98,255.
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