+211% SHIB Growth Imbalance Strikes As Millions of SHIB Get Moved

The $SHIB community continues to drive Shiba Inu coins from the market, making the circulating supply shrink.

This key Shiba Inu metric has experienced a significant surge over the past day. While the daily $SHIB burns were rather insignificant, the weekly ones carried millions of $SHIB to dead-end wallets.

$SHIB burn 211% growth imbalance

According to the figures shared by the wallet tracker Shibburn, over the past 24 hours, the daily $SHIB burn token metric has displayed an increase by 211.77%. However, this time, the community managed to dispose of only 219,849 meme coins.

Things stand better in weekly terms here as 6,989,286 $SHIB in total have been transferred to unspendable blockchain wallets, i.e. burned. Despite this hefty amount of $SHIB leaving the circulating supply, the weekly $SHIB burn rate demonstrated a decline of 25.13%.

The largest burn transactions this week carried 1,694,200, 1,076,047, 1,331,608, and 1,000,000 $SHIB coins, according to the Shibburn website.

$SHIB attempts a bullish rebound

Today, the prominent and second-largest meme coin, Shiba Inu, printed a substantial price growth, rising by 5.15%. This surge took place within just a few hours, the chart shows, with several green candles, two of which were long ones. $SHIB reached $0.00001257.

However, this attempt of a rebound after the weekend’s 4.4% decline quickly reversed and changed to a 3.13% drop. Currently, $SHIB is changing hands at $0.00001218 per coin.