Shiba Inu | Burn Rate of Shiba Inu Token Skyrocketed

The live Shiba Inu price today is $0.000011 USD with a 24-hour trading volume of $301,765,237 USD.Get detailed Shiba Inu cryptocurrency price news, analysis and more on Memecoin Exchange.

SHIB is the main token of Shiba Ecosystem, bringing the power of a decentralized, community-led currency to millions across the globe.

The Burn Rates of Shiba Inu Skyrocketed Today

Over 111.22 Million Shiba Inu (SHIB) burned in the past 24 hours, 108.47 Million in a single transaction.In the last 24 hours, more than 110 million SHIB tokens have been removed from circulation.As more users transfer, pay or utilize Shiba Inu in any way, more tokens are sent to the burn address.

Shiba Inu | Burn Rate of Shiba Inu Token Skyrocketed

Related reading : Shiba Inu | Shib’s Value Increased by 14% in the Past Week

The creators of Shiba Inu are currently working away on a metaverse called Shibarium.This is set to go live any day now.The Shibarium project will help Shiba Inu evolve into more than a memecoin.Users can access Shibarium’s test tokens through private test network portals although it has yet to be officially deployed.Shytoshi Kusama repeatedly stated that the launch of Shibarium would take place in the near future.Shiba Eternity has also received another update.

What is Shiba Inu?

Shiba Inu is a cryptocurrency that was created in 2020 by a mysterious person who calls themselves Ryoshi. The name ‘Shiba Inu’ was stolen from the fluffy dog that was the subject of many memes at the time.The coin started as a joke it was meant as a kind of parody of Dogecoin, which was rising fast in both price and popularity despite having little use in the real world. In fact, Shiba Inu called itself a “Dogecoin killer.”

Shiba Inu runs on the Ethereum blockchain, and while each token or coin is worth just a fraction of a cent, the price went wild in 2021 turning a few early investors into millionaires.While prices have gone back down from whence they came, it still remains one of the most popular cryptos.The Shiba Inu development team is currently busy working on two major projects: SHIB Metaverse and the much-awaited Layer 2 protocol, Shibarium.

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