SHIB Burns Skyrocket 116,757 % - What's Happening?
2025-07-08 08:44:39
Main Idea
The SHIB community has significantly increased its token burn rate by 116,757%, removing over 1 billion SHIB from circulation, while the team warns against the viability of 'next SHIB' projects.
Key Points
1. Over 1 billion SHIB was burned in a single transfer, increasing the burn rate by 116,757% in 24 hours.
2. A second large burn of 1.3 billion SHIB was recently executed through the Shibarium network's gas fee mechanism.
3. SHIB's price increased by 2.3% following a previous 3.45% decline, reaching $0.00001179.
4. SHIB's executive Lucie warned that past projects claiming to be the 'next SHIB' have failed, emphasizing SHIB's enduring value despite price drops.
Description
Immense amount of SHIB has been destroyed over the past day
$SHIB
$0.000011774
+1.40%
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