Shiba

Burn

Shiba Inu

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<p lang="en-GB" xml:lang="en-GB">Shibburn wallet tracker shows that one of SHIB’s key metrics, <a href="https://u.today/shib-burns-explode-by-790-despite-massive-price-setback">token burn rate</a>, has plunged deep into the red zone.</p>
<h2 id="shiba-inu-burns-face-massive-plunge">Shiba Inu burns face massive plunge</h2>
<p lang="en-GB" xml:lang="en-GB">According to data shown on the Shibburn website, the burn rate of the second largest meme cryptocurrency is <a href="https://www.shibburn.com/">almost 100% below the zero</a> mark, with only 261,691 SHIB meme coins burned.</p>
<p lang="en-GB" xml:lang="en-GB">That was the only burn transfer over the past day so far. On the previous day, this tracker spotted a total of seven million SHIB in daily burns.</p>
<p lang="en-GB" xml:lang="en-GB">As for the weekly reading of this metric, it is up 843%, with 114,255,785 SHIB tokens transferred to unspendable blockchain wallets over the last seven days.</p>
<p lang="en-GB" xml:lang="en-GB">While the SHIB burn rate sits deep in the red, the state of things on layer-2 blockchain Shibarium has been somewhat slowing down as well. Meanwhile, after the recent upgrade was implemented on it, SHIB burns directly correlate with transaction activity on SHIB’s internal ledger.</p>
<h2 id="shibarium-transaction-activity-flattens">Shibarium transaction activity flattens</h2>
<p lang="en-GB" xml:lang="en-GB">Over the past week, the daily transaction count on Shibarium has been going low after dropping <a href="https://u.today/shib-price-breaks-out-despite-shibariums-8824-key-metric-plunge">by more than 88%</a> from 28,680 on Aug. 20 to 3,370 on Aug. 23. Since then, this metric has been moving in roughly the same range, according to the <a href="https://www.shibariumscan.io/">Shibariumscan explorer</a>.</p>
<p lang="en-GB" xml:lang="en-GB">On Aug. 26, the daily transaction count saw a marginal increase to 4,020. As for the total transaction count, it amounts to 418,121,365, with the number of wallets connected to Shibarium standing at 1,813,006.</p>
<p lang="en-GB" xml:lang="en-GB">Meanwhile, Shiba Inu is losing price momentum as well, having dropped by 10.5% over the past three days. After rising by 23.32% last week to a high of $0.00001610 on Saturday, the second largest canine-themed cryptocurrency plummeted to the current level of $0.00001441.</p>

SHIB Burn Rate Collapses, Here's What's Happening on Shibarium

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