Shiba Inu (SHIB) has seen a significant increase in its token burn rate over the past week, coinciding with a positive movement in its price.
Sharp Increase in Burn Rate
According to a recent Shibburn update, 2,019,681,290 SHIB were burned over the last seven days, representing a 5094.07% increase in the burn rate. This coincided with a general upward trend in SHIB's price over the same period.
Price Rally and Social Attention
Shiba Inu saw a 37% increase over the last seven days, surpassing crucial resistance levels. On September 27, the price peaked at $0.00002169. This has brought renewed attention to the asset, with discussions around projects like Shibarium increasing. Transaction volumes, circulation, and whale transactions reached 10-week highs.
Fiats on Shibarium and Future Plans
Recently, Shiba Inu team member Lucie discussed the introduction of fiat on-ramps on Shibarium in a tweet, simplifying entry into the DeFi space. Users can purchase Bone or USDC directly with traditional currency. Future plans include zkKYC and the introduction of fiat top-ups, making it easier for users to fund their wallets.
Shiba Inu continues to attract attention through strong price movements and innovations such as fiats on Shibarium and zkKYC. These changes could significantly increase the accessibility and convenience of the SHIB ecosystem.
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