The Shiba Inu community continues its active token burn process despite a current zero burn rate. Meanwhile, the SHIB price has significantly dropped.
Current State of SHIB Burns
According to Shibburn, over the past 24 hours, the burn rate has remained at 0.00%. Despite this, an impressive amount of 23,767,888 SHIB has been sent to unspendable wallets. The two largest transactions carried 17,513,134 SHIB and 5,654,684 SHIB, performed 13 and 1 hour ago respectively. The zero burn rate is likely due to technical issues with the Shibburn website.
Updates on Shibarium
The ‘Shibarium BONE/Updates’ account linked with the Shiba Inu development team published information about the extensive opportunities offered by the Shibarium layer-2 solution for developers. Shibarium enables the creation of decentralized applications (dApps) with low transaction costs and high speed.
Developer Opportunities on Shibarium
The post indicates that everyone building and launching their dApps on Shibarium can take advantage of ShibOS, which provides native support for Shibarium tools and standards. Developers can also use Shibarium's bridge to securely move assets across multiple blockchains, including Ethereum. Additionally, there are testing opportunities for new testnet builds via the ‘Faucet’.
Thus, the Shiba Inu community continues to work actively on reducing token supply while further developing its ecosystem through Shibarium, which may potentially enhance the long-term value of the tokens.
