Burn rate of Shiba Inu has significantly increased over past 24 hours
According to the Shibburn website, the Shiba Inu’s burn rate has increased significantly over the past 24 hours. Shibburn’s Twitter handle reported a chunk of 219,660,376 SHIB tokens burned and more than 16 transactions made about eight hours ago. This number has now increased.
At the time of publication, the Shib burn rate was demonstrating an increase of 230% while 357 million Shib have been burned according to the Shibburn website.
A whopping 4,553,606,683 SHIBs were sent to dead wallets in June due to the Shiba Inu community’s enthusiasm for token burning, as evidenced by the 400 transactions completed.
By sending tokens to a dead address or crypto wallet, or by burning them, tokens are permanently removed from circulation. In this instance, the burning of Shiba Inu is a community-wide initiative that aims to reduce the total supply of SHIB.
FCFPay indicates support for BONE
FCF Pay, a cryptocurrency payment gateway, has shown its support for BONE by announcing plans to list it soon. Additionally, FCFPay hinted at LEASH support. The exchange is now teasing support for other tokens in the Shiba Inu ecosystem, including BONE and LEASH, after listing SHIB in April.
On-chain analytics firm Santiment reports that as a result of increasing user involvement on the network, address activity for Shiba Inu has reached seven-week highs. According to Santiment, SHIB has grown by 35% in this regard.
This follows as the number of Shiba Inu owners continues to grow. According to WhaleStats, the number of SHIB holders currently stands at 1,190,221, which is not far from the all-time high reached. Shiba Inu is currently trading at $0.00001, a little higher than a day ago.
