Unprecedented SHIB Asset Skew as 22,652,982 SHIB Tokens Get Secured in Lockup
In the world of cryptocurrency, the Shiba Inu (SHIB) community has been making waves with a significant increase in the burn rate of SHIB tokens. According to the Shibburn website and reports by U.Today, the daily burn rate demonstrated a staggering 6,354% growth on Thursday.
The largest SHIB chunks that were burned today amounted to 1,136,833 and 1,176,958 SHIB, followed by 2,663,204 SHIB and several lumps of around one million meme coins or slightly more. The largest SHIB chunks transferred to unspendable blockchain wallets contained a substantial 9,800,976 SHIB.
This surge in weekly SHIB burns has resulted in a 93.01% increase, marking a significant step forward for the Shiba Inu ecosystem. Over the past week, the Shiba Inu community has burned 22,652,982 SHIB coins.
Behind the scenes, the developer team working on Shibarium includes Shytoshi Kusama and his right-hand developer Kaal Dhairya. The number of blocks generated on Shibarium totals 12,911,597, and currently, there are 272,017,872 wallets connected to the platform.
However, the number of daily transactions on Shibarium has seen a drastic drop. On Aug. 23, there were 4.07 million transactions, but today, that number has dropped to 20,190. As of the current report, the total number of transactions on Shibarium has surpassed 1.5 billion and stands at 1,566,353,213.
Despite the drop in daily transactions, the Shiba Inu community continues to make strides in reducing the circulating supply of SHIB tokens through burning. The rate of weekly SHIB burns has plunged by 84.79%, indicating a promising future for the Shiba Inu ecosystem.
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