Shiba Inu Token Burning Surge
Shibburn, a platform that provides insights into SHIB burning, has revealed data showing a significant increase in the burning of Shiba Inu tokens. This surge in token burning has attracted the attention of crypto enthusiasts and coincided with a slight rise in the SHIB price. The Shiba Inu community has been actively burning tokens as part of their efforts to support the SHIB tokenomics.
SHIB Burn Report
According to Shibburn’s data, there has been a remarkable 128.37% surge in the burn rate, resulting in the burning of 9.13 million SHIB tokens as of November 24. This surge aligns with the community’s efforts to boost the SHIB tokenomics. Currently, a total of 410.662 trillion tokens have been burnt from the initial supply, leaving a circulating supply of 580.417 trillion.
Two notable burn transactions have caught the attention of market enthusiasts. The first transaction burnt approximately 7.15 million SHIB twelve hours ago, while the second transaction burnt 2 million SHIB twenty-four hours ago.
Shiba Inu Price Surge and Community Advancements
The price of Shiba Inu has experienced a marginal increase of 0.23% in the last twenty-four hours, reaching $0.000008189. However, trading volume has decreased by 23.11% to $94.83 million.
Over the past month, the token has gained significant momentum with a surge of 9.25%. This increase may be attributed to recent advancements made by the Shiba community. Shibarium, an Ethereum-based layer-2 blockchain network for Shiba Inu, reported that the total number of transactions on its network has exceeded 4 million. Additionally, SHIB wallets with a balance of $0 have seen an astonishing surge of approximately 15,000% compared to February 2021 data.
Hot Take: Shiba Inu Token Burning and Price Surge
The recent surge in the burning of Shiba Inu tokens has garnered attention from crypto enthusiasts, coinciding with a slight increase in the SHIB price. This demonstrates the community’s commitment to supporting the SHIB tokenomics. Furthermore, advancements made by the Shiba community, such as surpassing 4 million transactions on Shibarium and significant growth in wallets with a balance of $0, have contributed to the recent price surge. These developments indicate the growing interest and engagement surrounding Shiba Inu and its ecosystem.
By
By
By
By
By