Shiba Inu Token Burns in 2023
Shiba Inu burned over 76 billion tokens in 2023, a decrease from the previous year, with December seeing the highest burn rate. This represents an 8.33% decrease compared to 2022. Despite this, the figure is small compared to Shiba Inu’s circulating supply of nearly 590 trillion.
Shibarium’s Development
Shiba Inu’s Shibarium, a layer-2 blockchain solution, has shown significant progress. It has recorded a high number of transactions and blocks. The network officially went live in the summer of 2023 and has surpassed 200 million transactions, with almost 250 million transactions currently.
Shiba Inu’s Recent Price Trends
The asset’s value has shown an uptrend, with a significant increase in the past month. According to CoinGecko’s data, it has spiked by 5% in the past 24 hours and around 30% on a monthly basis.
Hot Take: Shiba Inu Continues to Burn Tokens and Develop Shibarium
Shiba Inu continues to burn tokens, decreasing its supply and potentially increasing its value over time. Additionally, its layer-2 blockchain solution, Shibarium, has made significant progress in terms of transactions and blocks. These developments contribute to the overall growth and potential of Shiba Inu. As the asset’s price trends upward, it remains an interesting project to watch for crypto enthusiasts.
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