A significant transaction exceeding 13 million SHIB has drawn community attention and is a part of the burn strategy aimed at reducing total supply.
Major Transaction and Burning Strategy
A transaction involving 13,046,414 SHIB was reported by ShibburnX, an account tracking SHIB burns. The transfer to a 'dead' wallet is part of a strategy to lower the token's supply. In the last 24 hours, 13,822,329 SHIB were burned, a 60.52% decrease, while 128,121,405 SHIB were burned over the past week, a 119.78% increase.
Market Dynamics and Impact
Cryptocurrency prices fell after a $1.5 billion heist on the Bybit exchange. SHIB's price is down 3.36% in the last 24 hours to $0.0000154, marking a nearly 7% drop for the week.
ShibaSwap Upgrade and New Features
ShibaSwap, the decentralized exchange, has been upgraded to include supercharged liquidity pools and a new user interface. This allows users to add liquidity more quickly and make informed investment decisions using real-time data on returns and trading volumes.
These developments highlight the ongoing evolution of the Shiba Inu ecosystem and its efforts to enhance token value through burning strategies and improved exchange functionalities.
