In the last 24 hours, the Shiba Inu (SHIB) burn rate has surged by an astonishing 28,145%, with millions of SHIB sent to dead wallets.
Shiba Inu Burn Rate Surge
According to the SHIB burn X handle, in the past 24 hours, a total of 96,434,994 SHIB tokens have been burned in two transactions, representing a 28,145.27% increase.
Market Reaction to Burn Rate Surge
Shiba Inu prices surged during Thursday's trading session, reaching a high of $0.00001455, coinciding with the SHIB burn rate surge. However, the rise was short-lived as prices slightly retreated. At the time of writing, SHIB is trading at $0.00001411, down 0.42% in the last 24 hours.
Shiba Inu Developer Portal Launch
Shiba Inu recently announced the launch of the Shiba Inu Developer Portal, a key initiative to support its developer community. This portal aims to provide Web3 and Web2 developers with the tools they need to accelerate dApp development on the Shibarium platform.
These events demonstrate the ongoing evolution of the Shiba Inu ecosystem and its market impact. However, price dynamics indicate the need for additional catalysts for sustained growth.
Comments