Shiba Inu Supply Drops With 6,079,210 SHIB Sent to Dead Wallets

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Shiba Inu has seen a supply drop in the last 24 hours with millions of SHIB sent to dead wallets in this timeframe. According to the Shibburn website, a total of 6,079,210 SHIB were sent to dead wallets in the last 24 hours. This adds to a total of 33,555,505 SHIB burned in the last seven days and 197,397,403 tokens in the last 30 days.Overall, 410,839,970,136,820 SHIB tokens have been burned out of the initial 1 quadrillion SHIB supply, accounting for 41.08%. This is worth $7,358,037,796 in monetary terms. The SHIB burn rate has increased 37.28% from the past day, while down 40.56% in the last seven days. Shiba Inu continues to sustain demand in India as it ranks among the top traded tokens on the country's major crypto exchange. Shiba Inu was among the Top 5 most traded coins on India's largest exchange, WazirX, in April, sitting in the second spot only after Bitcoin. Other coins actively traded include ETH, DOGE and XRP. Kuro, a Shiba Inu community member, highlighted this piece of information in a recent tweet, noting that "SHIB's popularity in India shows no signs of fading." Risk appetite spilled into the crypto markets as stocks pushed to fresh record highs, lifting altcoins higher. At the time of writing, Shiba Inu was trading in green, up 2% in the last 24 hours to $0.00000641 and up 3% weekly. Friday's U.S. labor market data contributed to the broader price increase in the markets with the economy adding 115,000 jobs in April. Shiba Inu ha...