Shiba Inu Price: Massive SHIB Token Burn Sparks Price Movement as Ecosystem Expands
SHIB experienced a 1500% increase in token burns, removing 33.01 million tokens from circulation while trading at $0.00002264, as the ecosystem prepares for the TREAT token launch and continues Shibarium development.
SHIB burn rate increased by 1500% with over 30 million tokens removed from circulation in 24 hours
Currently trading at $0.00002264 with a 2% daily gain
Shibarium Layer-2 solution showing increased adoption rates
Lead developer confirmed upcoming TREAT token launch
Technical indicators show RSI at 58 with strong support at $0.00002000
Shiba Inu (SHIB) marked a notable development in its ecosystem as the project recorded a 1500% increase in its token burn rate over the past 24 hours. According to data from Shibburn, the official community tracker, 33.01 million SHIB tokens were permanently removed from circulation during this period.
The token’s price responded to these developments with a 2% gain, reaching $0.00002264. Trading activity showed a daily range between $0.00002198 and $0.00002294, indicating steady market movement amid the increased burn rate.
Weekly burn statistics reveal a broader pattern of supply reduction, with 44.03 million tokens removed from circulation over the past seven days. These burns represent permanent removals from the total supply, potentially affecting the token’s long-term value proposition.
