According to the Shibburn website, SHIB the burning rate has increased by an astonishing 4636% in the last 24 hours. A total of $754,187,142 Shiba Inu was burned in the previous 24 hours. Shiba Inu burn rate refers to the amount of Shiba Inu destroyed or removed from circulation. This is done to reduce the token supply, which can increase its value over time. The largest transaction is 733,024,321 million Shiba Inu tokens.
Shiba Inu’s Value Soars
Whereas, the Shiba Inu price has risen by 4.81% in the past few hours. Each SHIB token is currently trading at 0.00001092 USD. meme coin It has gained more than 9.54% in the last 7 days. However, its market capitalization fell to USD 6.43 billion and trading volume increased by 30.22%.
FUD Surrounds Shibarium
The Shiba Inu project is a decentralized ecosystem that aims to provide users with a platform where they can trade, buy shares and participate in governance using the SHIB token. Meanwhile, shibarium Beta went live on March 11, 2023. The much anticipated launch was also responsible for the recent increase in the price of the Shiba Inu.
Shibarium is a project that aims to create a decentralized exchange (DEX) and liquidity pool for the Shiba Inu cryptocurrency. The project has been endorsed by the Shiba Inu community and has gained significant attention and support in recent months. However, some people expressed concerns about the legitimacy of the project and its developers, and stated that the project whitepaper lacked detail on technical aspects and implementation plans.
Despite these concerns, the Shib Army argued that the project had strong community support and was developed in a transparent and open manner. They pointed to the project’s roadmap and development updates as proof of the project’s progress.