303M Shiba Inu Tokens Burned in the Past 24 Hours

According to data provided by Shibburn.com, the burn rate shows an increase of a whopping 3043.73% from the previous day, where only 7.70 million tokens were reported be destroyed.

Two massive transactions were tracked towards a dead wallet responsible for a surge in burn rate. These transactions were carried out with a gap of almost 9 hours. In the first transaction, 290 million SHIB were reported to be transferred to the dead wallet. In another transaction, 10 million tokens were taken out of circulation.

Meanwhile, SHIB price manages to reclaim a 15 billion market cap and is currently trading at $0.00002810, up 6.1% from the past 24 hours. At the same time, the 24-hour trading volume for the meme-based cryptocurrency has also skyrocketed over 200% to $3.27 billion compared to the previous day.