Millions of SHIB were burned in the past week, with 373,715,046 tokens burned in 58 transactions, amounting to $3,269.69. This marked a significant increase from the previous week’s burn, where 259,383,545 SHIB tokens were burned in 66 transactions.
The weekly burn rate, according to Shibburn, was notably higher at 44.06%. In the last 24 hours, a substantial amount of SHIB was burned, although the daily burn rate decreased to 43.54%. Over this period, 20,002,824 SHIB tokens were burned in 19 transactions.
In the last 7 days, there have been a total of 373,715,046 $SHIB tokens burned and 58 transactions. #SHIB pic.twitter.com/6fEqLuGyWQ
— Shibburn (@shibburn) November 12, 2023
Additionally, the Shiba Inu network achieved a new milestone with a total of 3.65 million addresses, encompassing all created addresses and those still holding SHIB. Out of this, 1.26 million addresses have a SHIB balance.
Over time, the total number of addresses with a balance indicates the interest in holding and investing in a specific cryptocurrency. An increase in addresses with a balance is generally seen as positive, signaling a stronger and expanding user base.
Shiba Inu Unveils Exciting Surprise for Its Community
In the recently concluded week, Shiba Inu introduced the Shib Magazine, serving as a portal to innovative concepts, the latest developments, and intriguing updates from the Shibarium ecosystem and beyond.
The unveiling of the inaugural edition of Shiba Inu’s magazine came with a special offer for early subscribers: 1,000 complimentary NFTs featuring the cover of the first edition.
Now, as the second edition is set to be released, Shiba Inu has a surprise in store for its community—an additional 3,000 free NFT covers for subscribers.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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