31,447,991 SHIB in Hours — What’s This About?

Dearest reader, it has come to my attention through the esteemed Shibburn tracking platform that, in the span of a mere day, the SHIB burn metric has exhibited a most remarkable and substantial three-digit spike. Indeed, several tens of millions of those whimsical meme coins have been unceremoniously expelled from the circulating supply, as if they were uninvited guests at a ball! 🎉

31,447,991 SHIB removed from circulating supply

With a flourish of excitement, the daily burn rate has ascended by a staggering 117.57%, thanks to the collective efforts of the SHIB community, who have orchestrated an aggregate burn of 31,447,991 SHIB meme coins. This remarkable feat was made possible by two grand transfers to wallets that shall never see the light of day: 18,356,090 SHIB and 13,091,149 SHIB. One can only imagine the jubilation among the community! 🥳

As it stands, the cumulative endeavors of the SHIB community have resulted in the incineration of a staggering 410,748,743,591,348 SHIB from the original quadrillion supply. A total of 4,763,151,503,417 SHIB have been staked, whilst a rather hefty 584,488,104,905,233 SHIB remain in circulation. Such numbers could make even the most stoic of mathematicians swoon! 📈

Alas, dear reader, despite this recent surge of enthusiasm, the SHIB has faced the cruel hand of market volatility, suffering a loss of more than 12% over the past week. It has now retreated to the 18th position on CoinMarketCap, with its market capitalization currently languishing at $8,300,579,781. The second-largest meme cryptocurrency finds itself trailing behind the likes of Toncoin (TON), Stellar (XLM), and the ever-mysterious UNUS SED LEO (LEO). Oh, the indignity! 😩

SHIB shows partial recovery

Since the fateful Friday of May 23, our beloved Shiba Inu has experienced a rather dramatic decline, shedding 12.11% after reaching a local intra-day peak of $0.00001586. On Thursday, it plummeted to a low of $0.00001394, and throughout the week, it has danced up and down like a debutante at her first ball, yet ultimately settled at that price level.

On Thursday, SHIB enjoyed a brief moment of glory, rising by over 5%, only to be met with yet another decline today, slipping down by 1.6%. As of this very moment, the meme coin is exchanging hands at $0.00001445. One must wonder if it is merely playing coy! 😏

On May 28, the astute crypto trader and analyst Ali Martinez predicted that SHIB may yet log a 17% surge, as it appears to be forming a symmetrical triangle pattern, poised for a breakout. One can only hope that this prediction holds true, for the community’s spirits are as fragile as a fine china teacup! ☕

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2025-05-29 14:04