Shiba Inu Hits 21,000 Burn Transactions, 410.84T SHIB Removed
In brief
- Shiba Inu burn transactions surpassed 21,000, marking a new deflationary milestone for the token.
- 410.84 trillion SHIB tokens burned, representing 41.08% of the initial 1 quadrillion supply.
- 24-hour burns: 2.85M SHIB; 30-day burns: 259.39M SHIB.
Burn Progress and Supply Metrics
A total of 410.84 trillion SHIB tokens have been burned, representing 41.08% of Shiba Inu's initial 1 quadrillion supply. The token's current total supply stands at 589.15 trillion SHIB, with circulating supply at 585.61 trillion SHIB.
Recent burn activity shows consistent momentum. In the last 24 hours, 2.85 million SHIB were burned. Over a longer timeframe, 155.11 million SHIB burned in the last seven days, and 259.39 million SHIB in the last 30 days.
Holder Growth and Price Action
Shiba Inu surpassed 1.6 million holders, with Etherscan data showing 1,676,819 total SHIB holders. This expansion in the holder base reflects growing adoption across the network.
On price, SHIB was trading up 3.1% in the last 24 hours to $0.00000424 at the time of writing. The gains came after a recent pullback. The token fell to a low of $0.000004 on Monday following a three-day drop, then rebounded.
Broader market conditions may have helped sentiment. The June consumer price index fell 0.4%, bringing the year-on-year increase to 3.5%. That cooler-than-expected CPI print lowered expectations for a July Federal Reserve rate hike, which can ease pressure on risk assets including cryptocurrencies.
