Incidents such as a massive increase in the SHIB burn rate and the purchase of billions of SHIB by an ETH whale have occurred in the last 24 hours. Also, meme coin adoption is growing rapidly. Here are the details.
Shiba Inu burn rate saw a big decrease the other day and we shared this development with you. Today, there has been a great increase in the burning rate. According to the website that tracks SHIB burns, 17,804,606 SHIBs were removed from circulation in the last 24 hours, thus increasing the burn rate to 35,508%.
Forty-eight hours ago, 50,000 SHIB worth just $0.55 had been burned, according to data provided by Shibburn on Twitter. While the increase in burn rate is significant, the reason behind the increase may be disappointing for SHIB supporters. The reason for the increase in the burn rate is that the number of Shiba Inu tokens burned on April 6 was significantly lower than the amount burned on April 7. That is, the increase is not due to the burning of a large number of SHIBs, but from the burning of a very small number of tokens the day before.
While there has been a tremendous increase on a day-to-day basis, Shib burns have started to decline since last September. Where there used to be 100 million or 200 million incinerations per day, now this number has dropped to 20 million to 8 million SHIB.
At press time, the popular meme coin is trading at $0.0000109, with a marginal gain in the last 24 hours.
Looking at other developments regarding the meme coin, ETH whale “BlueWhale0073” bought 148,782,308,867 SHIB worth $1,651,483, according to crypto data tracker WhaleStats.
Enkrypt, a Web3 wallet created by MyEtherWallet to support Polkadot, has announced that it will soon support the Shiba Inu ecosystem and Shibarium.
SHIB adoption is growing rapidly
Shiba Inu (SHIB) can now be used to pay at the Radisson Hotel in Georgia, thanks to Binance Pay’s partnership with CityPayio. The partnership now allows users in Georgia to spend crypto in over 600 locations.
Nothing like a week at the Radisson Hotel in Georgia, paid for fully with #Binance Share!
Thanks to our partnership with @citypayiousers in Georgia can now spend crypto at over 600 merchants to purchase everyday goods and enjoy life’s luxuries. pic.twitter.com/YD0eq7SQBM
— Binance (@binance) April 5, 2023
In similar news, Travala, a crypto-friendly travel booking platform, has recently launched an affiliate program for the Shiba Inu (SHIB) community. The SHIB community and other users participating in this program have the opportunity to earn a high commission of up to 5.5% on all bookings made using special affiliate links.
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