The SHIB token burn rate surged around 60% in the past 24 hours, with approximately 80 Million tokens being incinerated. Most of these were burned in a single transaction, while the others were smaller transfers. Unfortunately, this spike in burning activity did not have a whole lot of impact on SHIB’s price, which has experienced a slight decrease. The memecoin is as of now currently worth $0.000008515. Token burns like this are typically done to lower the circulating supply of a coin to be able to drive up the price by creating scarcity. The Shib Army has burned 410.6 trillion SHIB tokens, reducing the supply to 589.3 trillion.
Speculations are circulating that the Shiba Inu (SHIB) ecological system might be considering a shift toward artificial intelligence. This speculation arose due to comments made by stakeholders, including lead developer Shytoshi Kusama and market specialist Lucie. This shift could align with the ecosystem’s efforts to become a versatile utility blockchain network. The recent introduction of Shibarium and the forthcoming launch of SHIB identity on the blockchain are evidence of these efforts.
Hot Take: Shiba Inu’s Probable Deal into AI
The whole lot of surge in SHIB token burning may not have had a noticeable effect on its value, but it’s indicative of ongoing developments within the Shiba Inu (SHIB) ecological system. With speculations about a probable shift toward artificial intelligence, the memecoin’s foray into A.I. may be a valuable addition to its utility blockchain network. As its ecological system continues to evolve, it’s clear that Shiba Inu (SHIB) is aiming to expand its applications and offerings.
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