It stands out as the second most powerful meme coin and has a strong community. Shiba Inurecorded a strong increase in daily burn rate.
According to Shibburn data, the community managed to burn 7.64 million SHIB tokens in the last 24 hours, increasing the burn rate by 191%. The price reacted positively by increasing during the same trading hours.
According to data announced by Shibburn, Shiba Inu, which has a total supply of 999.98 trillion tokens, has currently burned 410.70 trillion coins. The effect of two wallets in the burnings carried out in the last 24 hours is among the striking details.
Wallet address 0xa9d1e08c7793af6…7fb81d3e43 recently moved 4.01 million Shiba Inu tokens to the burn wallet, while address 0xa9d1e08c7793af6…7fb81d3e43 moved 3.60 million SHIB burning increased the rate strongly. Transfers to dead wallets reduce the token supply by reducing the number of tokens circulating in the market. This is also known as one of the most important developments that helps increase investor sensitivity.
As we reported as Koinfinans.com, Layer-2 network Shibarium has processed a total of 340.57 million transactions at the time of writing, indicating increased activity on the network. In addition, the recent integration of LSD (Liquid Staking Derivative) K9 Finance seems to have attracted the attention of crypto market enthusiasts.
Marswap’s plans to expand its services on Shibarium (a DEX hosted on Shiba Inu’s L2 Shibarium) have also accompanied the recent storm of pitches marked by the Ethereum-based meme coin, increasing market optimism for the token.
Shiba Inu Price is Very Volatile
Shiba Inu price increased by 2.75% in the last 24 hours and is currently trading at $0.000009317. Additionally, trading volume and market capitalization increased by 74.47% and 2.72%, respectively.
The most important motivation for the community to continue burning is attributed to the effort to increase the SHIB tokenomics, as seen in today’s rise. Finally, recent developments from the community seem to have helped add to the SHIB price pump.
