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Shiba Inu Achieves Remarkable Burn Milestone: Over 25 Billion SHIB Tokens Incinerated with Latest 8.5 Billion Burn!
Shiba Inu remains in the spotlight as the team executes its third Shibarium-powered burn, consuming an impressive 8.53 billion SHIB tokens, equivalent to $90,711. This strategic move is part of the ongoing initiative to leverage Shibarium gas fees for reducing the overall SHIB supply.
Rapid Shibarium Burns in Just 18 Days:
The recent Shibarium-powered burns have been nothing short of extraordinary. Within a mere 18 days, Shiba Inu has successfully obliterated a substantial 25.38 billion SHIB tokens. Notably, the latest burn of 8.53 billion SHIB follows significant burns of 8.24 billion SHIB on December 4 and 8.61 billion SHIB on December 16.
Surge in Shibarium Transactions:
The heightened burn rate of Shibarium aligns with a remarkable surge in the network's transaction volume. Since its mainnet launch four months ago, Shibarium has recorded an impressive 160.39 million transactions. The network's transaction count has soared, averaging over 5 million transactions per day and peaking at 7.5 million transactions on some days.
Stratospheric Burn Rate Increase by 161,540%:
The latest burn of 8.53 billion SHIB has propelled the total amount burned in the past 24 hours to an astonishing 8.59 billion. This surge has catapulted the burn rate to an extraordinary 161,540%. The cumulative amount of SHIB burned now stands at an impressive 410.68 trillion, with Ethereum co-founder Vitalik Buterin playing a pivotal role by sending over 410 trillion SHIB to the dead wallet in 2021.
Shaping the Future:
The strategic burns orchestrated by the Shiba Inu team aim to curtail the supply and potentially uplift SHIB's price. As Shibarium experiences a surge in transaction volume, the network's gas fees rise, fueling these impactful burns.
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