Shiba Inu Burn Rate Surges Over 1,000%, Boosting Investor Optimism
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The recent burns significantly impacted the circulating supply, which now stands at 589.26 trillion SHIB tokens. This marks one of the most substantial single-day reductions in SHIB’s supply in weeks, reflecting active community engagement. The heightened burn activity, combined with increased trading volume—up by 109% in the past 24 hours—has fueled investor optimism about potential price gains.
Shibarium Developments and Market Performance
In addition to the burn activity, the Shiba Inu ecosystem’s advancements, particularly within its layer-2 solution Shibarium, have bolstered market sentiment. Shibarium’s Total Value Locked (TVL) has surged by 851%, starting from $1.23 million, demonstrating strong on-chain performance and increasing confidence in the blockchain's potential.
Despite these promising metrics, SHIB’s price slipped by 12% in the past 24 hours, settling at $0.00002693. However, the token has seen a 12% gain over the past week, signaling broader bullish possibilities.
Outlook for SHIB
With continued burn activities and Shibarium’s growth, SHIB remains a focal point for investors betting on supply-and-demand dynamics to drive future price movements.