Shiba Inu: Fueled by Burn & Shibarium
Shiba Inu, a popular meme coin on the Ethereum blockchain, has been making waves in the crypto market this week. Its burn rate has seen a significant increase, with reports of a 4250.91% surge in recent days. This has caught the attention of traders and investors globally, along with the community burning a whopping 410.708 trillion SHIB tokens to date.
Another factor contributing to the frenzy around Shiba Inu is the success of Shibarium, an L2 blockchain backed by the meme coin. While daily transactions on the network have been low, the total number of transactions has reached 308.07 million, indicating a rise in activity on Shibarium.
Additionally, whale transactions of around 4 trillion SHIB have been observed this week, adding to the excitement surrounding the token’s tokenomics.
Price Movements
Despite these positive developments, the price of Shiba Inu has seen a slight dip of 0.40% in the past 24 hours, currently trading at $0.000008901. Its weekly chart also shows a drop of 5.57%, with a monthly plunge of 17.43%. This contrast between the token’s accomplishments and its price has left many crypto enthusiasts expecting a price boost in the near future.
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