Shiba Inu (SHIB) has just made a new push as the token burn rate skyrocketed to 367%, with more than 11.5 million SHIB transferred to the burn wallet. This information was confirmed by Shibburn, showing the strong efforts of the community to reduce supply, support price increase and create new momentum for the ecosystem.
Token Burn Transaction Details
Over the past 24 hours, 11,696,177 SHIB were taken out of circulation through two major transactions:
First transaction: 3,271,537 SHIB burned
Second transaction: 8,424,639 SHIB destroyed, double the previous one
Currently, the total supply of Shiba Inu is 589,268,792,658,296 SHIB, of which 583,543,594,573,618 SHIB are in circulation. To date, the community has burned a total of 410,731,207,341,703 SHIB, with 5.725 billion SHIB staked.
SHIB price situation and market developments
Current Price: 0.00001889 USD
24h change: +6.97%
Market capitalization: $11.1 billion (+7.01%)
24h trading volume: 463.07 million USD (-9.96%)
In the past 7 days, 320.8 million SHIB have been burned, representing an increase of 916.7%. The continuous burning activities show the community's determination to promote deflation to increase the value of the token.
SHIB community and development prospects
Although the price of SHIB is increasing slightly, the trading volume is decreasing, indicating cautious sentiment from investors. However, the community remains optimistic about the future of the token, especially as core projects are about to be launched.
Shiba Inuâs marketing director, Lucie, confirmed that the development team is working on several major projects initiated by Shytoshi Kusama. She also warned users not to be swayed by FUD (fear, uncertainty, and doubt) information, which is often spread by investors with limited interests in SHIB.
One of the most anticipated projects is the Shib DAO Foundation, which aims to revolutionize the ecosystemâs governance model. If this project is successful, it promises to elevate Shiba Inuâs position in the global cryptocurrency market.
The increase in token burn rate is not only a testament to the solidarity of the community, but also opens up hope for Shiba Inu's long-term growth potential. If this momentum can be maintained, SHIB could soon solidify its position in the valuable investment portfolio.