Crypto News– The Shiba Inu project has recently garnered significant attention from cryptocurrency enthusiasts due to a flurry of updates and advancements within its ecosystem. Notably, data provided by Shibburn indicates a remarkable surge in the burn rate of Shiba Inu (SHIB), surpassing 991% over the past 24 hours, a milestone celebrated by its community. This substantial increase in the burn rate of the second-largest meme cryptocurrency has infused optimism within the community.
September 28 Shiba Inu Price, Shiba Inu Burn Rate Rockets 991%
According to Shibburn, the burn rate of Shiba Inu coins surged by an astounding 991.36% within the last 24 hours, resulting in the incineration of approximately 178.39 million Shiba Inu tokens during this period.
In the span of the last day, the SHIB community executed a total of 53 transactions aimed at permanently removing a significant quantity of tokens from circulation. Notably, the four highest transactions from the previous day amounted to 19.19 million, 17.39 million, 10.74 million, and 10.64 million tokens, respectively.
Despite the substantial increase in its burn rate compared to the previous day, the circulating supply of the token has remained relatively stable at approximately 579.7 trillion. However, through recent burns, a cumulative total of 410.66 trillion coins have been permanently removed from its initial supply.
In other noteworthy developments, the meme coin’s development team achieved a significant milestone by successfully completing the contract renunciation process for Bone ShibaSwap (BONE). BONE serves as the gas token for ShibaSwap and is the official token of Shibarium, marking a notable step in the project’s progress.
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