Shiba Inu Burning Rate
A few months ago, there was a significant expectation among investors regarding token burns until the launch of Shibarium. Experts who calculated the burn performance for the mainnet based on the demand during the testnet process had stated that it could reach a burn of $40 million per week. However, due to the decreasing interest in layer2 solutions after the mainnet, the goal of $40 million burn has fallen through.
According to the Shibburn website, Shiba Inu has experienced a 535% increase in daily burning rate. 8.1 million SHIB tokens were burned daily. In the past week, a total of 260 million burns were carried out. These burns, which were made in 66 transactions, indicate that the Shiba Inu team has not yet reached the desired levels.
In summary, the price of Shiba Inu will not be fueled by token burn motivation and Shibarium excitement for some time. If applications that will truly receive demand on the Shibarium network are released in the coming months, the situation may change. For now, the layer2 solution seems to have been left behind due to lack of interest, just like other hype projects (Shib Metaverse, NFT, Shib DeFi).
