The website of the Shibburn tracker reveals that the overall burn rate of the second biggest meme cryptocurrency, SHIB, has increased by an astounding 889% during the previous 24 hours.
Since Sunday morning, a greater quantity of SHIB has been burnt, totalling 64,986,148 meme coins. 50,704,939 Bitcoins were burnt in a single transaction.
Compared to the 8,369,636 coins delivered to dead wallets on Saturday, this is an increase of eightfold. U.Today stated on Sunday that just 272.2 million SHIBs were withdrawn from circulation over the preceding week, which is a terrible record for the month of September.
The game developer Travis Johnson, who operates the @shib superstore Twitter account, stated on Sunday that the total number of SHIBs he has burnt since his project’s inception in October 2017 is approaching 2.9 billion coins. Johnson torched the aforementioned 50,704,939 SHIB worth $666 during the weekend.
As one of the methods for burning, Johnson utilizes an Amazon affiliate scheme that enables him to purchase SHIB with the commissions he receives and subsequently burn them.