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SHIB Burning Makes the Leap, Here's How Much Was Burned Last Week

7 Nov, 20222 min readOther
SHIB Burning Makes the Leap, Here's How Much Was Burned Last Week

A big leap occurred in the SHIB burning process over the weekend. The number of Shiba Inu tokens that dropped out of the total offer stood at 93 million SHIB in one Sunday alone, bringing the burn rate figure to a whopping 5,800%.

A total of 187.37 million SHIBs were burned during the past week, equivalent to $2,200 at the token's current price. Considering the monthly burn figures provided by CryptEye of 888.95 million, equivalent to $10,516, it can be said that the past week was not particularly remarkable.

SHIB burning future developments

As noted by U.Today, the SHIB burning process has plateaued since September after the momentum of the last month and a half of summer. At that time, the number of SHIB burns for each month was 4 billion tokens, while now only 2.82 billion SHIBs have been burned for the entire autumn period.

Meanwhile, since the beginning of September, Shiba Inu as an ecosystem has managed to announce and release the mobile game Shiba Eternity, as well as reveal details on Layer 2 blockchain Shibarium. In the eyes of the developers, both projects will have to be combined and, among other perks, multiply the number of SHIBs burned. Nevertheless, it seems Shiba Inu will finish the year with a plateau in burnouts, but the first half of 2023 promises to be more interesting.

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