Shiba Inu Community Burns Tokens
Shiba Inu is once again making headlines in the cryptocurrency world as its community is burning significant amounts of cryptocurrency tokens. The Shiba community has been trying to build up support for increasing the SHIB tokenomics, resulting in a substantial number of tokens being burnt.
Shiba Community Incinerating Tokens: Here’s All You Need To Know
Data from Shibburn, a platform that showcases SHIB token supply and burn dynamics, reveals that the Shiba Inu burn rate has increased by 1146.71% over the past twenty-four hours, with almost 122.10 million tokens burnt. As of now, the total burnt tokens amount to 410.66 trillion, while the current circulating supply stands at 580.09 trillion tokens.
SHIB Token Price Analysis
Currently, the Shiba Inu price is down by 2.48%, reaching $0.0000083 today, with a trading volume surge of 61.05% at $282.40 million. Despite a weekly surge of 7.38%, the SHIB price mostly trades between $0.083 to $0.085.
In recent news about the SHIB token, fintech firm Robinhood announced plans to expand its services to Europe and the United Kingdom, introducing a wallet that supports all assets including Shiba Inu and Dogecoin. Additionally, Shibarium, Shiba Inu’s dedicated layer-2 blockchain saw a phenomenal increase of 3000% in daily new contracts, indicating an upswing in network utilization and growth.
Hot Take: Shiba Inu’s Token Burning Spree Continues
The burning of Shiba Inu tokens continues to gather attention in the crypto space as the community strives to boost SHIB tokenomics through significant token burns. While this has resulted in a substantial number of tokens being destroyed, it is yet to significantly impact the price surge witnessed by the SHIB token.
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