Shiba Inu (SHIB) Burn Rate Skyrockets 330% in 24 Hours: Details

Shiba Inu (SHIB) continues to see a considerable number of tokens removed from its total circulating supply.

The latest increase comes following a rather dull weekend in terms of overall trading volume and market activity.

Data from Shibburn – the portal that tracks tokenomics metrics for the Shiba Inu project – reveals that the burn rate is up 333.44% in the past 24 hours alone.

According to the platform, this equates to around 181,859,002 SHIB tokens being permanently removed from circulation.

With this, the total tokens burnt from the initial supply is currently 410,658,785,948,791 SHIB.

The remaining circulating supply is 579,540,025,675,322 SHIB, around 9,801,188,375,885 of which is currently being staked. This is also known as xSHIB tokens.

The increase comes weeks following the launch of the much-anticipated Shibarium release. Shibarium is the layer-two network that the entire Shiba Inu community was looking forward to. You can find out more about Shibarium in our fully-dedicated video below: