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Although a record 1.3 billion SHIB were burned, the price of the token is in decline

@shibburn, a crypto burn tracker, has stated that a significant amount of SHIB tokens — 1,351,643,000 Shiba Inu – has been removed from circulation in the last twenty-four hours.

Burned: 1.3 billion SHIB + 100 million SHIB

The value of this quantity of meme coins is $32,155. Several successive transfers stand out from the others in the list of burn transactions published on the Shibburn website due to their enormity.

Three transactions burnt more than 100 million SHIB, while three others each shifted 210 million to 270 million tokens to a dead-end wallet.

Image via Shibburn

Following the burn tracker’s tweet announcing the 1.3 billion SHIB, more tweets have appeared in the last few hours. Thereby, informing the community that more tokens have been taken from circulation — 55,402,333, 1,000,000, 20,675,909, and 18,674,658 Shiba I.

This brings the overall number of Shiba Inu to 95.6 million.

Despite recurrent burning, the price of SHIB continues to fall.

Despite regular token burning, the Shiba Inu price has been unable to rebound from its all-time high of $0.00008845 hit in late October.

Image via TradingView

Since April 5, the second largest meme token has fallen from a high of $0.00002748 to a low of $0.00002385. Of course, where it is now trading as of this writing.

SHIB has down 13.22 percent in the last four days.

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