Shiba Inu His army continues to do whatever it can to help raise the price of his favorite meme coin. The only way the SHIB community can do this is to continue buying and burning SHIB. Thus, this meme is to increase the demand for the coin.
In the last 24 hours, the combined efforts of the SHIB military have led to the cremation of approximately 50 million Shiba Inu. Meanwhile, SHIB burns may have contributed to ShibariumA milestone was reached in .
X published by Shibburn post, says a total of 44,049,556 SHIB tokens were burned in the last 24 hours. It took eight operations to burn this amount of SHIB.
In the past 24 hours, there has been a total of 44,049,556 $SHIB tokens burned and 8 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/7ZppmmknzM
NEWS CONTINUES BELOW— Shibburn (@shibburn) September 15, 2023
This increased the Shiba Inu’s burn rate by 11.43%. That’s nearly six times lower than Shibburn’s 62.66% rise on Thursday, according to the same data source.
Shibarium Reaches a New Milestone
On September 13, Layer-2 solution Shibarium saw its daily transaction count rise to a staggering 200,000. That’s why he was able to achieve a new supporting milestone. It surpassed this peak the next day. The number of daily transfers dropped to 183,840. The total number of transactions has reached over 2,600,000 so far.
Bone Shibaswap (BONE) token serves as a gas token in Shibarium. Additionally, it feeds all processes on it. A portion of the BONE paid for transactions is set aside by SHIB developers. Then, when the amount reaches a certain level, this BONE is transformed into a Shiba Inu and burned. While Shibarium’s launch was still in the pipeline, the SHIB community posted tweets sharing their expectations that trillions of Shiba Inu would be cremated monthly once the Layer-2 solution was launched.
Now, more projects are starting to use Shibarium, the better for SHIB burns. Because more projects on this blockchain means more transactions will be made. This means more fees and therefore more SHIB coins that will eventually be sent to indefinitely unspendable wallets.
In the past 24 hours, the second largest market cap meme coin SHIB showed an increase of 3.20%. However, a small price drop followed. Now the overall increase in the price of this meme coin accounts for 1.87%. SHIB is trading at $0.00000736 at the time of writing.