{"id":62045,"date":"2023-10-19T06:30:59","date_gmt":"2023-10-19T10:30:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=62045"},"modified":"2023-10-19T06:38:50","modified_gmt":"2023-10-19T10:38:50","slug":"shib-burners-reduce-supply-as-shibarium-grows-price-impact","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/shib-burners-reduce-supply-as-shibarium-grows-price-impact\/","title":{"rendered":"SHIB Burners Reduce Supply as Shibarium Grows: Price Impact?"},"content":{"rendered":"\n

Shiba Inu community continues to reduce the circulating supply of SHIB by burning tokens on a daily basis. The SHIB burn rate has surged by 111% in the last 24 hours. Meanwhile, Shibarium<\/a> reached over 3.5 million transactions. Read more about the latest developments in Shiba Inu and its ecosystem below.<\/p>\n\n\n\n

\"SHIB<\/figure>\n\n\n\n

The Shiba Inu community continues to reduce the circulating supply of SHIB, burning almost 90 million tokens <\/strong>in the last 24 hours. <\/p>\n\n\n\n

SHIB burn rate surges by 111%<\/h3>\n\n\n\n

According to Shibburn, a website that tracks the amount of SHIB tokens sent to dead-end wallets, the SHIB burn rate has increased by 111.35% in the last 24 hours, compared to Wednesday, when less than 40 million SHIB were burned. <\/p>\n\n\n\n

Over this period, 84,187,048 SHIB were transferred to \u201cinferno\u201d <\/em>wallets, reducing the circulating supply of the meme coin.<\/p>\n\n\n\n

The website recorded nine burn transactions, with the two largest ones carrying 29,883,366 SHIB and 20,000,000 SHIB, respectively. <\/p>\n\n\n\n

The burn rate has been on the rise this week, showing a 400%<\/strong> jump on Monday and a 208%<\/strong> jump on Tuesday.<\/p>\n\n\n\n

\"SHIB
Source: Shibburn\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/em><\/figcaption><\/figure>\n\n\n\n

The SHIB community has been actively burning tokens in an attempt to boost the price of the coin, which has been under pressure from the bearish market sentiment. <\/p>\n\n\n\n

Shibarium reaches over 3.5 million transactions<\/h3>\n\n\n\n

Shibarium, the Layer-2 blockchain solution for Shiba Inu, has reached a significant new milestone in terms of total transaction count. <\/p>\n\n\n\n

According to Shibariumscan,<\/use><\/svg><\/span><\/a> an explorer for the network, the number of transactions has surpassed 3.5 million <\/strong>as of today.<\/p>\n\n\n\n

Shibarium is a collective blockchain that scales and invites solutions, innovation, and security to the decentralized finance space. It allows anyone to build a digital product, conduct peer-to-peer transactions, and access other basic capabilities.<\/p>\n\n\n\n

The network also shows a high number of mined blocks (1,216,076) and linked wallets (1,254,787). <\/p>\n\n\n\n

However, the number of daily transactions has dropped to a low of 9,760<\/strong> compared to a recent surge of 33,000 <\/strong>three days ago. On Sept. 20, a peak of 43,850<\/strong> transactions was registered.<\/p>\n\n\n\n

The number of cumulative accounts on Shibarium has risen to 27,460 today, which is almost 2,500 growth within a week. <\/p>\n\n\n\n

Shibarium demonstrates its utility and adoption as a Layer-2 blockchain for Shiba Inu and its ecosystem.<\/p>\n\n\n\n

\"\"
The coin is currently trading at $0.00000687, down 1.04% in the last 24 hours. Source: <\/em>TradingView<\/use><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

Conclusion<\/h3>\n\n\n\n

Shiba Inu community is striving hard to continue its efforts to reduce the circulating supply of SHIB by burning tokens on a daily basis. <\/p>\n\n\n\n

The SHIB burn rate has surged by 111%<\/strong> in the last 24 hours,<\/strong> showing the dedication of the SHIB army. <\/p>\n\n\n\n

Meanwhile, Shibarium, the Layer-2 blockchain of Shiba Inu, has reached over 3.5 million transactions, indicating its potential and growth as a scalable and innovative platform for decentralized applications.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu community continues to reduce the circulating supply of SHIB by burning tokens on a daily basis. The SHIB burn rate has surged by 111% in the last 24 hours. Meanwhile, Shibarium reached over 3.5 million transactions. Read more about the latest developments in Shiba Inu and its ecosystem below. The Shiba Inu community […]<\/p>\n","protected":false},"author":44,"featured_media":62050,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[6126,13072,1588],"class_list":["post-62045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-shib-price","tag-shibarium","tag-token-burn"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/Shib-.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=62045"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/62050"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=62045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=62045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=62045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}