Shiba

Burn

Token

Shiba Inu

Gains

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a surprising turn of events, the Shiba Inu (SHIB) token burn has&nbsp;<a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">experienced</a> an unprecedented surge, witnessing an impressive increase of over 400% in the past 24 hours. This development comes as the Shiba Inu community eagerly anticipates further gains in the value of the cryptocurrency.
<blockquote>
 In the past 24 hours, there have been a total of 5,316,694 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> tokens burned and 6 transactions. Visit <a href="https://t.co/t0eRMnyZel" rel="noopener noreferrer nofollow">https://t.co/t0eRMnyZel</a> to view the overall total of <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> tokens burned, circulating supply, and more. <a href="https://t.co/rMUNSzCxZh" rel="noopener noreferrer nofollow">pic.twitter.com/rMUNSzCxZh</a>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1737699686427828369?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 21, 2023</a>
</blockquote>
Shibburn, a prominent tracker of SHIB token burns, has reported a staggering total of 5,316,694 SHIB tokens burned in the last 24 hours, accompanied by six transactions. This notable increase has propelled the burn rate to a remarkable 421.41%. As of the latest&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">update</a>, the current price of Shiba Inu stands at $0.00001033, marking a 1.12% uptick in the last 24 hours. Impressively, the token has surged by 23.99% in the last 30 days, adding to the optimism surrounding SHIB's performance.
<h2 dir="ltr" id="positive-development-for-shib">Positive development for SHIB</h2>
This surge in the token burn rate indicates heightened activity within the Shiba Inu community, as holders actively participate in reducing the circulating supply of SHIB tokens. The burning mechanism, designed to contribute to the scarcity of the token, has become a key factor influencing the dynamics of Shiba Inu's&nbsp;<a href="https://u.today/shib-price-analysis-for-december-20" rel="noopener noreferrer nofollow">price</a>.
In a separate positive development, as&nbsp;<a href="https://u.today/shibarium-achieves-ground-breaking-milestone" rel="noopener noreferrer nofollow">previously reported</a> by U.Today, Lucie, the official marketing expert of the Shiba Inu team, revealed that layer-2 network Shibarium has surpassed the impressive 150 million mark in overall transaction count. This achievement underscores the growing adoption and utilization of Shiba Inu's technological infrastructure.
The Shiba Inu community is buzzing with enthusiasm as these recent developments align with the cryptocurrency's upward trajectory. As the market continues to evolve, the Shiba Inu team and its community remain optimistic about the project's future prospects. The increased burn rate and the milestone achieved by Shibarium contribute to the positive sentiment surrounding Shiba Inu, and the community eagerly awaits further developments that may propel SHIB to new heights.

Shiba Inu (SHIB) Token Burn Soars by Over 400% as SHIB Eyes Further Gains

Table of Contents

U_Today

Other articles published on Dec 21, 2023

Record Token Burn occurred in the Popular Memecoin!

New Research from Matrixport: What Will Happen to Bitcoin Price After ETF Approval?

BetFury Unveils Innovative NFT Lootboxes in Its Expanding NFT Ecosystem

Ripple Gains VASP License in Ireland; MiCA Regulation Coming Soon

From Crypto Curious to Crypto Confident: CoinEx Has Got You Covered In Seamless, Secure Trading

Web3 Growth Marketing Leader Addressable Completes $13.5M Raise Led by BITKRAFT (21 Dec)

Join our free newsletter for daily crypto updates!