Dog-themed cryptocurrency Shiba Inu (SHIB) continues to actively reduce its supply through a token burn system and announces new developments in the Web3 space.
SHIB Supply Reduction
Currently, 410.74 trillion SHIB tokens have been removed from circulation, which makes up over 41% of the original supply of one quadrillion tokens. In May 2021, Ethereum co-founder Vitalik Buterin burned 410 trillion SHIB tokens, representing 90% of the tokens he received from the project.
Latest Burn Data
According to data provided by the Shibburn account, 537,187,730 SHIB tokens were burned in the last 24 hours, resulting in a burn rate surge of over 3,000%. In the past week, 687,249,104 SHIB tokens were burned, reflecting a 481.17% increase in the weekly burn rate.
New Partnerships and Developments
This week, Shiba Inu announced a partnership with TokenPlayAI, an AI-powered gaming platform developed by the Astra Nova team. Additionally, the Shib Alpha Layer — a rollup abstraction stack — was launched in beta, promising to create an ultra-fast layer for application integration. Upcoming developments are expected to expand the SHIB ecosystem.
Shiba Inu continues to move towards reducing token supply and implementing new technologies for Web3 development, which may attract more attention to the project in the future.
