One of the popular meme coins Shiba InuThe burn rate of , token continues to increase. In this context, meme coin continues to arouse excitement in the broader crypto market with these moves. In particular, the nearly 400% increase in the burn rate of the meme coin, according to data disclosed by Shibburn, has aroused great curiosity among crypto market traders and investors.
Shiba Inu’s Burning Move
Today, the community recorded a 395.43% increase in cremation, according to Shibburn’s data. Also, consistent with this data, a staggering 18.24 million SHIBs were burned in the last 24 hours.
Concurrently, three notable burning processes appear to be primarily responsible for the above-mentioned rise. These operations collectively burned 16.56 million SHIB of the total amount of burning mentioned above.
Moreover, the total burned from SHIB’s initial supply meme coin Its number has now reached 410.707 trillion, attracting great global attention. However, Shibarium, a second-layer blockchain facilitated by Shiba Inu, has seen a notable decline in its activity. At the time of writing, the total daily transactions on the network reached 1.86 million, a significant decrease. This represents another significant decline for the L2 blockchain. The daily volume recently recorded over 6 million transactions per day on the network.
However, with the rise in the SHIB burn rate accompanying the Shiba Inu’s continued price increase, market sentiment for the token appears to be taking an exciting turn.
SHIB Price Rising
At the time of writing this news, the Shiba Inu price has increased significantly by 2.70% in the last 24 hours. It is currently trading at $0.00001021. Additionally, the token’s weekly chart shows a 3.69% increase, accompanied by a 5.99% monthly increase.
Interestingly, the increase in price is also in line with the increase in the SHIB burn rate. Moreover, the token recently dropped a zero from its price again.