The prominent wallet tracker Shibburn has shared data showing that a significant amount of SHIB meme coins have been transferred out of circulation in the past week, with several tens of millions being burned. Over the past 24 hours alone, nearly 3 million coins were burned, coinciding with a large price decline for SHIB. The Shiba Inu community has been actively burning meme coins, removing a total of 66,156,811 SHIB from circulation in the past week. However, the burn rate has declined compared to the previous week. Currently, there are 584,219,829,029,380 SHIB circulating, half of the initial supply. The price of SHIB has experienced fluctuations, with a small recovery after a recent decline. The price of SHIB has been following the trajectory of Bitcoin.



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