Shibburn Transaction Data Reveals Continued Shiba Inu Price Recovery
Shibburn transaction data shared by a Shib Inu transaction tracker shows that since yesterday morning, Shiba Inu price has continued its recovery after recently reaching its highest level.
Nearly 30 million SHIB tokens have been burned and turned to ashes.
The aforementioned data source indicates that over the past 24 hours, collective efforts of the SHIB army have facilitated the transfer of a total of 28,709,351 SHIB tokens to a non-exchangeable blockchain address, away from perpetual circulation. The two largest transfers accounted for 21,657,489 and 6,824,773 SHIB tokens, respectively.
This achievement was made possible through six transactions targeting burned SHIB wallets. Thus, another small step has been taken towards Shiba Inu becoming a scarce asset.
Over the past two days, the second most popular cryptocurrency, Shiba Inu, recorded a significant price drop, losing a staggering 19.20%. SHIB is undergoing a major price correction.
Read more Shiba Inu’s Market Cap Rapidly Approaching Dogecoin’s Territory
After its recent peak, when SHIB burned zeros and reached $0.00003, it has now recovered to trade at $0.00002811.
The renowned cryptocurrency follows the primary Bitcoin correction, which began after the world’s leading cryptocurrency reached a new all-time high two days ago, hitting $73,750. So far, Bitcoin’s price has dropped to $68,544
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