Shiba Inu | SHIB Burn Rate Has Surged By 840.49% Over The Past 24 Hours

The live Shiba Inu price today is $0.000011068634 today with a 24-hour trading volume of $163,500,267.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.

SHIB Burn Rate Has Surged By 840.49% Over The Past 24 Hours

According to data from analytics platform, Shibburn the Shiba Inu burn rate has jumped by 840.49% over the past 24 hours. Apparently, the growing burn rate is an indication that more transactions involving Shiba Inu are being carried out on the network, generating enough fees, which are being burned.Shibarium 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.The SHIB army expects the release of Shibarium to push the price of SHIB up as tons of Shiba Inu tokens will be burned for every transaction.

The upcoming launch of Shibarium is raising high hopes in the Shiba Inu community that the SHIB price will rise due to an expanded use case beyond a meme coin. The total supply of the Shiba Inu will shrink significantly following the introduction of Shibarium.One of the goals of the hotly anticipated Shibarium Layer 2 solution is to burn trillions of tokens.

Related Reading : Shiba Inu | Whales Are Getting Ready For The Launch Of Shibarium Beta Version

As more users transfer, pay or utilize Shiba Inu in any way, more tokens are sent to the burn address.The Shibarium potential is enormous as it is expected to revolutionize the Shiba Inu ecosystem and the crypto space.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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