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Shiba Inu daily burn rate jumps 439.79% as 10,684,707 SHIB are burned in 24 hours

Shiba Inu daily burn rate jumps 439.79% as 10,684,707 SHIB are burned in 24 hours

Seven-day burns slowed to 173.37 million SHIB while 30-day burns stayed above 3.36 billion, as SHIB fell and CryptoQuant flagged an extreme contraction in Tether's USDT market capitalization.

USDT
SHIB

Fact Check
The Shibburn X post directly confirms the central figures: 24hr burn 10.68M SHIB at +439.79% and 7d 173.37M, matching the claim's '10,684,707 SHIB' and '439.79%' and '173.37 million.' The U.Today article carries all claim elements including the 30-day figure above 3.36B and the CryptoQuant USDT contraction note. The USDT extreme-contraction detail is independently corroborated by web results citing CryptoQuant. All components of the claim are consistent across primary and secondary sources.
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Summary

Shiba Inu's daily burn rate rebounded sharply, with 10,684,707 SHIB destroyed in the past 24 hours and the burn rate up 439.79%, even as the seven-day total slowed to 173,365,318 from the late-July spike that saw more than 1 billion burned on both July 26 and July 27. More than 3.36 billion SHIB has been burned over 30 days, with the 30-day burn rate up 2811.38%, and 410,843,703,896,181 tokens have been removed in 21,502 transactions overall. SHIB traded near $0.00000463 and remained down on a daily and weekly basis, while broader crypto markets were watching the Senate's decision to delay a vote on the Digital Asset Market Clarity Act, upcoming U.S. jobs and inflation data, and CryptoQuant's view that a nearly $4 billion drop in Tether's USDT market capitalization may mean selling pressure is moving closer to exhaustion.

Terms & Concepts
  • burn rate: The pace at which tokens are permanently removed from circulation over a set period.
  • market capitalization: The total value of an asset, calculated by multiplying its price by the number of tokens in circulation.
  • selling pressure: Persistent market selling that weighs on prices until demand absorbs the available supply.