Shiba Inu

<p><em><strong>Exploring the surge in Shiba Inu’s monthly burn rate, which skyrocketed by 2,330%: who’s leading the charge? The SHIB community burned more than 15 billion SHIB tokens in March, equivalent to over half a million dollars.</strong></em></p><h2 id="header-0">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>A significant portion of these burns, around 13.4 billion SHIB, resulted from fees collected on Shibarium’s Layer-2 platform. Now, the community eagerly anticipates the activation of <a href="https://cryptosheadlines.com/lunc-burn-mechanism-and-q1-2024-recovery-forecast/" rel="noopener noreferrer nofollow">Shibarium’s automatic burn mechanism</a>.</p><h2 id="header-1">Shiba Inu’s Massive Monthly Burns in March: A Closer Look</h2><p>In a surprising turn of events, Shiba Inu (SHIB) witnessed a substantial surge in its cumulative monthly burns as April began. Shibburn, the official tracker for Shiba Inu burns, revealed the staggering results for March.</p><p>During the month, the SHIB Army, as the <a href="https://cryptosheadlines.com/warning-shiba-inu-community-faces-increased-scam-threats/" rel="noopener noreferrer nofollow">Shiba Inu community</a> is known, orchestrated over 15 billion burns. This amounted to a total of 15,644,329,668 SHIB tokens being transferred across 217 transactions to inactive on-chain wallets. In terms of fiat currency, this translated to an impressive $547,216, marking a significant increase from February’s <a href="https://cryptosheadlines.com/shib-burn-rate-accelerates-price-continues-to-struggle-in-the-red-zone/" rel="noopener noreferrer nofollow">SHIB burns</a>, which were limited to 643,656,418 SHIB tokens.</p><blockquote><img src="https://academy-public.coinmarketcap.com/optimized-uploads/701d9dcf46b5408a83aa6ebcf05fed55.svg&#43;xml" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/701d9dcf46b5408a83aa6ebcf05fed55.svg&#43;xml" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/701d9dcf46b5408a83aa6ebcf05fed55.svg&#43;xml" /> 15,644,329,668 <a href="https://twitter.com/search?q&#61;%24SHIB&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> tokens have been burned in the month of March with 217 transactions. <a href="https://twitter.com/hashtag/SHIB?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> <a href="https://t.co/wCqYDGiZgj" rel="noopener noreferrer nofollow">pic.twitter.com/wCqYDGiZgj</a>— Shibburn (&#64;shibburn) <a href="https://twitter.com/shibburn/status/1774648254791131320?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">April 1, 2024</a></blockquote><p>The most substantial burns occurred on March 9, 2024, when the <a href="https://cryptosheadlines.com/shiba-inu-lead-developer-proposes-burning-99-9-of-circulating-shib-tokens/" rel="noopener noreferrer nofollow">SHIB Token’s executive team executed a bulk transaction burning</a> cumulative Shibarium gas fees, totaling 13.4 billion SHIB. Notably, the decision to conduct these cumulative SHIB burns in March instead of February likely played a significant role in the remarkable 2,330% spike observed in Shibburn activities.</p><p><a href="https://cryptosheadlines.com/cftc-engages-in-another-dispute-with-sec-regarding-kucoin/" rel="noopener noreferrer nofollow">Also Read:   CFTC Engages in Another Dispute with SEC Regarding KuCoin</a></p><h2 id="header-2">The Impressive Contributions Behind Shiba Inu’s Burn Surge</h2><p><a href="https://cryptosheadlines.com/shiba-inu-burn-rate-surges-by-1100-amidst-sharp-decline-in-shib-price/" rel="noopener noreferrer nofollow">Amidst the surge in Shiba Inu’s monthly burns</a>, known as Shibburns, the community, including the Good Shibarians, has actively participated in incinerating SHIB tokens. From individual <a href="https://cryptosheadlines.com/shibarium-sets-new-record-with-20-million-transactions/" rel="noopener noreferrer nofollow">transactions torching thousands to tens of millions</a> of coins, the collective effort has been significant. Notably, SHIB Token’s executive team and crypto enthusiasts collectively burned 26.22 billion SHIB in the initial three months of 2024.</p><h2 id="header-3">Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On<a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow"> ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Red-and-White-Modern-Corporate-Sports-YouTube-Outro-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>Nevertheless, there’s a growing sense of impatience among the SHIB Army regarding the delayed implementation of Shibarium’s automatic on-chain burning mechanism. Despite reaching out to Shiba Inu’s team for updates, the community has yet to receive a response. The developer team has stated that the automatic burning consensus is operational on Shibarium’s testnet, ‘Puppynet,’ and is expected to transition to Shibarium’s mainnet soon.</p><p>The remarkable 2,330% increase in burns witnessed in March played a significant role in SHIB’s price surge, which soared by 145%. However, as April commences, SHIB faces a market correction in the double digits. Presently, the coin is trading at $0.00002677, as reported by independent crypto price aggregator CoinGecko.</p><h2 id="header-4">In Summary</h2><p>The <a href="https://cryptosheadlines.com/shiba-inu-team-confirms-automatic-shib-burn-on-puppynet/" rel="noopener noreferrer nofollow">Shiba Inu automatic burning</a> system, initially slated for January 2024, intends to expedite SHIB burns. However, various factors must be taken into account. For instance, Shibarium’s team stresses the importance of bolstering on-chain liquidity and developer activity, as the accumulated fees play a crucial role in burning SHIB tokens. Tokenomics relies on active community engagement and developer team responsibility to maintain a sustainable crypto ecosystem.</p><p><a href="https://cryptosheadlines.com/terra-and-do-kwon-face-sec-jury-deliberates/" rel="noopener noreferrer nofollow">Also Read:   Terra and Do Kwon Face SEC: Jury Deliberates</a></p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Shiba Inu Monthly Burns Surge 2330%; With a Twist

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