Amidst the tumultuous sea of digital currencies, the Shibburn tracker has unveiled a curious phenomenon: over the past day, the SHIB burn metric has surged by a staggering five-digit percentage, with tens of millions of meme coins vanishing into the ether. 🌡️🔥
This sudden surge in SHIB burns coincides with the crypto market’s newfound bullish momentum, courtesy of Bitcoin‘s latest all-time high. It seems the digital bulls are charging forward, leaving a trail of burned SHIB in their wake. 🐂🔥
Burn rate jumps 11,899%
The latest data update reveals that over the past 24 hours, the SHIB burn rate has skyrocketed by an astounding 11,899%, with a whopping 28,682,712 SHIB tokens sent to unspendable blockchain wallets. 🚀💥
Three burn transactions have already taken place today, each initiated by anonymous whales. The transactions carried 15,106,880 SHIB, 6,466,388 SHIB, and 7,109,444 SHIB, respectively, to their final resting place in the digital void. 🐳🌊
1,095,269,361 SHIB burned in last week
According to the weekly burn update from the Shiba-Inu-affiliated X account “Shibarium Updates” (@Shibizens), the SHIB team has managed to dispose of a staggering 1,095,269,361 SHIB tokens over the past week. These tokens have been locked in dead-end wallets, effectively removing them from circulation. 🗑️🔒
ShibTorch – Weekly Burn Update
Total Burned: 1,095,269,361 SHIB
Change from Last Week: 🔥 +4.30%Latest Burns:
•May 21, 2025 – 07:00 UTC: 15,106,880.28 SHIB
•May 19, 2025 – 02:24 UTC: 14,993,658.85 SHIBCurrently Collecting:
•2,491,920.75 SHIB
•115.52 BONE— Shibarium Updates 📢 (@Shibizens) May 21, 2025
The two most recent burns, registered on May 19 and May 21, featured 14,993,658.85 SHIB and 15,106,880.28 SHIB, respectively. As more SHIB is collected from transaction fees on Shibarium, another burn is imminent. Currently, 2,491,920.75 SHIB and 115.52 BONE are awaiting their fiery fate. 🌋🔥
Market gains momentum thanks to new Bitcoin ATH
On May 21, Bitcoin, the largest digital currency by market capitalization, experienced a price surge, reaching a new all-time high of $111,861. This historic peak surpassed the previous record of $109,356, set on January 20. 📈🚀
The current price surge was fueled by massive inflows into spot Bitcoin ETFs, with $329 million pouring in on Tuesday. Additionally, the US Senate’s passage of the stablecoin bill has removed a key procedural barrier for US crypto businesses, further boosting the broader cryptocurrency market. 🏛️💰
At press time, Bitcoin is trading at $110,484, a testament to the enduring strength of the digital bulls. 🐂💰
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2025-05-22 12:08