The price of Shiba Inu token ($SHIB) has risen by 8.01% over the past 24 hours, linked to increased trading activity on major platforms.
Shiba Inu's Trading Activity Increase
Over the past 24 hours, Shiba Inu reached a price of $0.00001609, up from $0.00001508. Binance recorded unusual trading activity with a volume of 6,228,348,237 tokens. The SHIB/USDT trading pair on Binance increased by 13.62% in volume, reaching $90,375,845.
Increased Token Burn Rate
In the last 24 hours, 28,793,847 SHIB tokens were burned, marking a 1.76% increase compared to the previous period. This aligns with ongoing efforts to reduce inflation within the ecosystem. The continuous removal of tokens is aimed at enhancing scarcity and may influence long-term price stability.
Launch of Shibarium DappStore
The Shiba Inu development team recently launched the Shibarium DappStore, a marketplace for decentralized applications built on the Shibarium Layer 2 blockchain. This store aims to simplify decentralized application discovery and ensure secure access to verified applications, serving as a complement to ongoing trading activities and burn efforts.
The overall situation with Shiba Inu illustrates a successful combination of increased trading activity, active token burns, and new features, which may positively influence the token's future.
