SHIB Burns Skyrocket 5,404.56% — What’s Happening?

Data shared by popular blockchain tracker Shibburn shows a four-digit increase in the SHIB burn metric achieved over the past 24 hours.

A staggering amount of SHIB has been moved to dead-end wallets this time.

SHIB burns up 5,404%

According to a tweet published by the aforementioned data source a few hours ago, the burn rate skyrocketed by an impressive 5,404.56%. That result was achieved thanks to burning 5,153,696 SHIB.

Still, the Shibburn website shows the most recent burn transaction, which moved 13,956,875 SHIB to an unspendable blockchain wallet in a matter of minutes from an anonymous address.

The increase value has dropped to merely 582.16% after a recent update. Aside from the above-mentioned 13,956,875 SHIB, the other two largest transfers on this burn list carried 1,500,000 and 1,000,000 SHIB to inferno wallets.

Shibarium passes 1.28 million milestone

SHIB-affiliated X account “Shibarium Updates” (@Shibizens) spread the word about the recent milestones achieved by the layer-2 network Shibarium launched by the SHIB team in August 2023.

The biggest achievement here is the surpassing of the 1.2 million level in terms of total transaction count. This metric has by now reached a total of 1,283,125,425, while the total amount of daily transactions continues to hold in the 4,570,000 range.

Meanwhile, the total number of generated blocks now constitutes 11,677,331, and there are 266,407,994 wallets linked to Shibarium.