The Shiba Inu coin, a popular meme coin on the Ethereum platform, caused a lot of talk in the crypto market on Friday. This was because its burn rate had a huge increase. According to the Shibburn burn tracker, 7. 64 million SHIB coins were destroyed in the last day, getting a lot of attention around the world. The burning speed went up to 191. 69%, according to the market charts. At the moment, the meme coin is mostly being traded in a positive way, similar to the increase in its burning rate today.
Looking deeper into the SHIB burn report.
Shibburn revealed that Shiba Inu has burned 410. 70 trillion coins out of a total of 999. 98 In addition, today we saw a big increase in how fast something was being used up. Two big transactions are likely the main reason for this increase.
The wallet 0xa9d1e08c7793af6â¦7fb81d3e43 sent 4. 01 million SHIB to a dead wallet, and another wallet with the same address sent 3. 60 million SHIB to a dead wallet, helping the price to increase a lot. Sending Shiba Inu tokens to wallets that are not in use makes the number of tokens available to buy smaller. This thing goes along with the big rise in the price of SHIB today, which has got a lot of people in the crypto market really interested.
In the meantime, Shibarium, which is Shiba Inu’s L2 network, has recorded 340. 57 million transactions so far, showing increased activity on the network. Also, the new addition of the LSD (Liquid Staking Derivative) K9 Finance seems to have caught the attention of people who like the crypto market.
Interestingly, Marswap, which is a decentralized exchange for Shiba Inu’s Shibarium platform, wants to offer more services. This news comes at the same time as a lot of excitement and activity in the market for the Ethereum-based meme coin, which is making people feel positive about the token.
Shiba Inu price goes up.
The price of Shiba Inu went up by 2. 75% in the last day and is now at $0. 000009317 Also, the amount of trading and the value of the company increased by 74. 47% and 272% respectively
The Shiba crypto community burned tokens to increase the value of the SHIB token, which led to an increase in its value today. At the same time, the community’s recent changes seem to have helped the SHIB price go up even more.