Shiba Inu (SHIB) is on a parabolic run according to the burn rate metric as millions of SHIB are burned and sent to unusable wallets. According to data from Shibburn, 121,210,538 SHIB tokens were burned overnight, a massive 567% jump from previous levels.
With these newly burned SHIB tokens, the total number of SHIBs burned so far is 410,643,987,410,621 SHIBs. Of this figure, a total of 579,861,188,397,103 SHIBs remain in circulation.
With the gradual decrease in supply, there is a high tendency for impressive price jumps. this too meme coinIt indicates a positive connotation for the burn rate metric in the evolution of . This impressive deflationary growth rate also coincides with the Shiba Inu’s price being on a parabolic run along with the broader market.
At the time of writing this news, SHIB was up 3.48% and its price was fixed at $0.000007462. The token’s trading volume also went parabolic, increasing by more than 128% with a total of $256 million in transactions overnight. Based on its current outlook, Shiba Inu remains one of the most profitable altcoins in the broader market’s energetic price revival.
Is This Pace Sustainable?
While it is one thing to achieve impressive growth in burn rate, maintaining that pace is an entirely different narrative. With this, ShibariumWith the advent of , the task becomes even narrower as the Tier-2 scaling solution will serve as another important conduit for removing more Shiba Inu from circulation. As part of this mission, a potential incineration portal was introduced by the development team led by Shytoshi Kusama. Although the launch date of this portal has not been announced, it is considered as one of the key features to look out for.