Shiba Inu (SHIB) token burn has witnessed an impressive increase of over 400% in the last 24 hours.
Shiba Inu (SHIB) Token Burn Increased Over 400%
According to Shibburn, one of the leading followers of SHIB token burns, a total of 5,316,694 SHIB tokens were burned in six transactions in the last 24 hours.
In the past 24 hours, there have been a total of 5,316,694 $SHIB tokens burned and 6 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/rMUNSzCxZh
— Shibburn (@shibburn) December 21, 2023
This significant increase increased the burn rate to a remarkable level of 421.41%. As of the last update, the current price of Shiba Inu stands at $0.00001033, marking an increase of 1.12% in the last 24 hours.
This increase in token burn rate indicates increased activity within the Shiba Inu community as holders actively participate in reducing the circulating supply of SHIB tokens.
The burn mechanism, designed to contribute to token scarcity, has become an important factor affecting the price dynamics of Shiba Inu.
In another positive development, Lucie, the official marketing expert of the Shiba Inu team, announced that the total number of transactions of the layer-2 network Shibarium has exceeded 150 million.
This success underlines the increasing adoption and use of Shiba Inu's technological infrastructure.
*This is not investment advice.
