Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home ยป SHIB Experiences Up to 107% Increase in Burn Rates

    SHIB Experiences Up to 107% Increase in Burn Rates

    0
    By fernandoo on October 4, 2023 Cryptocurrencies, Shiba Inu News
    Shib Burn Rates 107% in 24hs
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Shiba Inu token (SHIB) and its Layer-2 blockchain, Shibarium, are making waves in the crypto ecosystem. In the past hours, SHIB has experienced a remarkable 107.49% Burn Rate, currently measuring a 67.74% Burn Rate over the last 24 hours, according to data provided by the Shibburn wallet tracker. This marks significant burn activity for this popular meme cryptocurrency, which currently ranks second in terms of market capitalization.

    In just one day, the SHIB community managed to burn a total of 39,273,371 SHIB tokens, representing a significant increase in the burn rate. Just a few days ago, around 20,000,000 SHIB had been sent to inactive wallets, resulting in a burn rate of –80%. It’s worth noting that, despite this increase in the burn rate, no particularly large burn transactions were recorded during that period, with the two largest burns not exceeding 7,000,000 SHIB.

    Furthermore, it’s revealed that in the month of September, the SHIB community managed to burn an astonishing total of 2,323,834,085 SHIB tokens in 426 transactions, all directed towards unspendable wallets, according to a recent tweet by Shibburn.

    ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ 2,323,834,085 $SHIB tokens have been burned in the month of September with 426 transactions. #Shib pic.twitter.com/ywWejDn3jy

    — Shibburn (@shibburn) October 1, 2023

    In another realm, Shibarium, the Layer-2 blockchain developed by the SHIB team, continues to impress by reaching significant milestones. According to data from Shibariumscan, over 3,308,000 transactions have been conducted on the Shibarium network. Additionally, the platform boasts 1,252,121 connected wallets and is rapidly approaching the one-million mark with 961,673 blocks created to date.

    Shiba Inu Burn Rates 107%

    Scalable solutions in Shiba Inu

    These achievements underscore the growing utility and adoption of Shibarium, positioning it as a scalable solution with lower transaction fees compared to the Ethereum network. The cryptocurrency community is closely watching this growth as Shibarium aims to meet the increasing demands of the Shiba Inu ecosystem.

    The current market data for SHIB highlights its resilience amidst these dynamic developments. With a price of $0.00000723, experiencing only a slight decrease of –0.38%, and a market capitalization of $4,254,500,375, showing a mild dip of –0.15%, along with a 24-hour trading volume of $95,475,081 as per data provided by CoinMarketCap.

    The SHIB token remains a focal point in the cryptocurrency landscape. As the burning of tokens continues and its ecosystem expands through Shibarium, the future holds promise for the Shiba Inu community and its investors.

    cryptocurrency Featured Shiba Inu
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    fernandoo

    Related Posts

    Ethereum ICO whale stakes 150,000 ETH ($646M) after three years of inactivity, reducing supply and signaling confidence

    September 5, 20253 Mins Read

    Solana pulls back after profit taking near the $210โ€“$212 barrier

    September 5, 20253 Mins Read

    Ether leads crypto market decline amid ETF outflows, whale accumulation, and regulatory uncertainty

    September 5, 20253 Mins Read

    Historic wallet awakens: 479 BTC (52 million USD) moved after 13 years

    September 5, 20253 Mins Read

    World Liberty Financial Blocks Justin Sun’s Wallet Amid WLFI Controversy

    September 5, 20253 Mins Read

    XRP hangs on the hope of a short squeeze amid a stalemate between buyers and sellers

    September 4, 20253 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.