In June, despite the latest updates related to Shiba Inu (SHIB), there has been a significant 89% decrease in the token burning rate. This development can be considered concerning for SHIB, a meme coin that raises doubts about its future.
Shiba Inu (SHIB) Burned 89% Less In June
Crypto enthusiast Shibburn tweeted about the amount of SHIB tokens burned during the month of June. According to Shibburn’s post, approximately 1 billion $SHIB tokens were burned in the last 31 days. This represents a notable decrease of around 89.25% in the token burning rate from May to June.
During the period from May to June, the process of burning SHIB tokens experienced a significant decline. About 15,369,335,177 SHIB tokens were burned in May, reflecting the community’s efforts to reduce the token supply. However, in June, the burning rate decreased significantly, with only 1,653,845,435 SHIB tokens burned.
This decrease in the token burning trend occurred despite the ongoing progress and participation within the Shiba Inu community. The developments and significant milestones in the ecosystem indicate the growth of Shiba Inu. As of the last 24 hours, SHIB’s current price is at $0.000007619, showing a modest increase of 1.26%.
The Shib Community In June and The Upcoming Months
Exciting developments are expected for the Shiba Inu community in the month of June and in the upcoming months. In May, SHIB tokens made significant progress with Shibarium, a layer-2 scaling solution. In the past few days, an important milestone was reached in the Beta Testnet phase. As reported by CoinGape, the total value of transactions conducted on Shibarium exceeded $25 million, which is an impressive achievement that demonstrates the future potential and adoption of the Shiba Inu community.
CoinGape announced that Shiba Inu shared a teaser of Rocket Hub in the metaverse environment. Additionally, in an official blog post, two captivating new locations, Game Changer and Ryoshi Plaza, were introduced. Shyotoshi Kusama, a renowned developer in the Shiba Inu ecosystem, announced that a comprehensive guide called “wallpaper” for the SHIB ecosystem will be released soon, and it was mentioned that the time for departure will be announced when it comes.
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