• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Record SHIB Burn with 43,325% Increase: What It Means for Cryptocurrency

user avatar

by Giorgi Kostiuk

a month ago


Shiba Inu cryptocurrency set a record by burning nearly 1 billion SHIB tokens in 24 hours, leading to a 43,325% surge in burn rate.

Massive SHIB Token Burn

Last week, Shiba Inu conducted one of its largest token burns, incinerating nearly 1 billion SHIB. This event is part of a strategy to reduce inflation and increase the token's market value.

ShibTorch Upgrade

The token burn was part of an upgrade to the ShibTorch portal, integrated into the Shibarium Layer-2 blockchain. This upgrade enables users to contribute to the ecosystem's deflationary mechanics by reducing the total number of tokens in circulation. Kaal Dhairya, a key figure in the Shiba Inu ecosystem, announced this milestone on X (formerly Twitter).

Long-term Prospects for SHIB

The gradual decrease in SHIB's circulating supply may create scarcity and boost future demand for the token. Recently, there was a noted increase in SHIB’s active addresses by 1.15% in the last 24 hours, despite a significant drop in whale transactions.

The burning of nearly 1 billion SHIB tokens will be a key component in Shiba Inu's long-term strategy to boost the cryptocurrency's market value and attract investor interest in its ecosystem.

0

Share

Other news

Could Jack Dorsey be Bitcoin's Creator?

Exploring new theories surrounding Jack Dorsey's potential role in creating Bitcoin.

user avatarGiorgi Kostiuk

a few seconds ago

LIBRA Token Scandal: Accusations Involving the Founder and Argentine President

LIBRA Token: Conflict between founder and Argentine president and price crash.

user avatarGiorgi Kostiuk

a few seconds ago

Donald Trump's Crypto Holdings: Analysis and Insights

Exploring Donald Trump's cryptocurrency investments and World Liberty Financial's role in managing digital assets.

user avatarGiorgi Kostiuk

a minute ago

DeFi: How Decentralized Finance is Transforming the World

DeFi transforms finance, offering services to anyone with internet. Discover its development and future.

user avatarGiorgi Kostiuk

2 minutes ago

Fraud Allegations: Javier Milei and the Collapse of LIBRA Token

Argentine President Javier Milei is accused of fraud over his endorsement of LIBRA token that collapsed shortly after launch.

user avatarGiorgi Kostiuk

2 minutes ago

Launch of CGPT.Fun by ChainGPT Poised to Make Waves

ChainGPT announces the launch of CGPT.Fun, an AI agent platform built on the BNB blockchain.

user avatarGiorgi Kostiuk

2 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.