SHIB Burns Soar 1,155% As 15,161,271 SHIB Disappears Forever

Shibburn blockchain tracker has revealed that over the past 24 hours, the SHIB army has managed to burn more than a dozen million meme coins out of the circulating supply, triggering a massive burn rate increase.Meanwhile, the price of the second most popular meme cryptocurrency Shiba Inu continues to trade sideways, moving in the $0.00001530 range.SHIB burn rate skyrockets 1,155%A tweet recently published by Shibburn revealed that since last morning, the SHIB burn rate has demonstrated a substantial increase, going up as high as 1,155.95%. That massive increase was achieved thanks to a total of 15,161,271 SHIB getting removed from circulation.The largest single amount of SHIB locked in unspendable wallets over that period of time comprises 14,089,269 SHIB.HOURLY SHIB UPDATE$SHIB Price: $0.00001487 (1hr -0.23% ▼ | 24hr -1.15% ▼ )Market Cap: $8,761,296,897 (-0.89% ▼)Total Supply: 589,255,625,936,675TOKENS BURNTPast 24Hrs: 15,161,271 (1155.95% ▲)Past 7 Days: 75,298,908 (-93.38% ▼)As for the past week, here, despite the much bigger amount of meme coin transferred out of circulation, the weekly burn rate is deep in the red zone: minus 93.38% with 75,298,908 SHIB burned thanks to SHIB community’s cumulative efforts.$20,136,020 worth of SHIB leaves KrakenEarlier this week, a prominent blockchain sleuth Whale Alert detected a jaw-dropping amount of SHIB withdrawn from one of the largest and oldest U.S. cryptocurrency exchanges, Kraken.The data source revealed that 1,239,940,928,235 SHIB worth $20,136,020 was transferred from a Kraken wallet to an unknown blockchain wallet. However, Arkham Intelligence data tracker showed that that tremendous SHIB lump was sent to a wallet also associated with Kraken.But there was more — on that day, Arkham registered 733 billion SHIB of total outflows from that crypto trading platform.