The Shiba Inu burn rate has taken a sharp nosedive, with data from the Shibburn blockchain tracker revealing a significant 64% decline. Despite this setback, the Shiba Inu ($SHIB ) community managed to incinerate 3,166,691 SHIB tokens over the last 24 hours. This was accomplished through six distinct burn transactions, the largest of which removed 1,040,537 and 1,008,249 tokens from circulation. Earlier this week, approximately 10 million $SHIB B tokens were collectively burned, showcasing a more vigorous effort by the $SHIB #BinanceLaunchpoolBIO #BinanceLabsBacksUsual #BinanceLaunchpoolBIO #MicroStrategyInNasdaq100 army on Monday.
Interestingly, this decline in burn activity contrasts with SHIB's price performance. Over the past 24 hours, the token has defied expectations, surging over 10%. SHIB's price climbed from $0.00002117 to $0.00002336, demonstrating that the burn rate and market value are not currently moving in tandem. This divergence highlights a unique phase in SHIB’s market dynamics, where price action is seemingly independent of the token-burning trend.
Shibarium Inches Closer to a Major Milestone
Meanwhile, Shibarium, Shiba Inu's layer-2 blockchain, is on the verge of achieving a new milestone. The Shibariumscan explorer reports that total transaction volume has reached an impressive 698,969,876 and is rapidly approaching the 700-million mark. Daily transaction activity has seen a notable increase, now averaging 4.71 million transfers compared to 4.58 million earlier this month.
The network's user base is also expanding, with wallet connections now totaling 2,021,457. Recent updates from the “latest transaction” section of Shibariumscan highlight 175,088 new transfers, reflecting the ecosystem's growing adoption and activity. As Shibarium continues to evolve, its momentum underscores the Shiba Inu community's commitment to building and sustaining a robust blockchain e
cosystem.
