Shiba Inu (SHIB) Burn Rate Surges, Will it Continue?

SHIB Army Eagerly Waiting For the Anticipated Download Day
  • Shiba Inu (SHIB) Burn rate surged by 1867.60%.
  • Shiba Eternity download day postponed to October 6, 2022.

Following the “Shiba Eternity” collectible card game update, which is an anticipated Shiba Inu (SHIB) burning mechanism, the SHIB burn rate has surged by 1867.60%. Meanwhile, the Shiba community postponed the game’s download day and rescheduled it on October 6 instead of October 1. 

Shiba Inu is one of the popular memecoin while having a lower market capitalization than DOGE, but it is well ahead in terms of development. The feature to burn SHIB was introduced earlier this year. Data from the monitoring site Shibburn shows that the burn rate surged by around 4,000% in the previous week.

Continue Surge of SHIB Burn Rate 

In September, the Shiba community burned about $1,743,878,414 SHIB using the SHIB Burn Portal by 382 transactions, and 410,381,404,462,435 SHIB have been burned from its initial supply. According to data from the Shibburn website, Within 24 hours $267 million SHIB has burned and there have been nine burn transactions to dead wallets. 

Shiba Inu (SHIB) burn rate Source: Shibburn)

On September 17 in Australia, Shiba Eternity was in circulation for the first time. Then Shiba Inu increased by almost 7% on September 17 and 18. However, recent details on the game’s launch may boost excitement. Moreover, there is no significant change in the SHIB price. At the time of writing, Shiba Inu traded at $0.000011 with a 24-hour trading volume of $280,760,792 and SHIB has a market cap of $6 billion, as per CoinMaretCap.

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A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.