Shiba Inu, has recently witnessed a price jump amidst a decline in token burning. In this context, it has attracted significant attention in the cryptocurrency world.
Shibburn recently released data showing the decline in burning SHIB tokens.
Additionally, Shibarium has also witnessed a significant increase in testnet activity. This led to speculation among crypto market traders and investors.
Shiba Inu Killing Rate Among Testnet Activities
Data shows a 34.89% decrease in Shiba Inu cremation in the last twenty-four hours. Additionally, the total number of tokens burned in the last twenty-four hours reached 5.94 million. Interestingly, SHIB’s burn rate last week also saw a decrease of 43.33%. A total of 130.90 million SHIBs were burned in the last seven days.
Shiba Inu crypto- community has created a buzz in the cryptocurrency world following the massive burning of SHIB tokens in the last few days. In a series of transactions, the Shiba community appears to have burned 410.662 trillion SHIB tokens to date. The above-mentioned token burn occurs as a result of the SHIB community building support for its tokens.
Despite the efforts of the SHIB community, meme coin The price did not gain much momentum at 23. Then the community started burning massive amounts of tokens.
Additionally, Shibarium testnet activity has also increased rapidly over the past few days. According to data disclosed by a blockchain researcher, not a single transaction has been processed on the Shibarium testnet in recent weeks. However, it has processed 400,000 transactions since November 9. In this context, it attracted attention in crypto markets.
Shiba Inu Price Report
At the time of writing, the Shiba Inu price has witnessed an increase of 1.27% in the last twenty-four hours. Today, it traded at $0.000008329. However, the token witnessed a marginal decline of 3.28% last week.
Additionally, twenty-four-hour trading volume increased significantly by 17.63% and reached $119.77 million.
The price increase that SHIB witnessed last month was valued at 12.25%, in line with the community’s efforts to raise the SHIB tokenomics. Token scarcity continues to increase as the SHIB community continues to burn large amounts of tokens. This could push the token towards a better future outlook in the broader crypto markets.