Burn rate for Shiba Inu (SHIB), which is extremely high when compared to prior records of comparable measures, is now showing a positive outlook. According to statistics from Shibburn, as of the time of writing, the SHIB burn rate has risen as high as 170%, with a total of more than 98 million tokens delivered to dead wallets.
There isn’t any debate over SHIB burn rate data. Despite the generally negative pricing forecast, the rise demonstrates that there is continuous activity on the network.
Shibburn records show that 19,690,401 was the highest single burning ever recorded. Unusual for the burning event, no wallet held sway, a demonstration of more decentralised efforts on the deflationary agenda of the meme coin.
Shiba Inu is now trading at $0.000009139, down 4.85% over the past 24 hours following a stellar weekend of positive gain. However, when contrasted to its week-to-date (WTD) price forecast, in which the coin has maintained a total rise of 9.38%, the negative price prognosis of SHIB is rendered irrelevant.
Heralding new era
The upcoming rollout of the Shibarium Layer 2 protocol may be preparing Shiba Inu investors, developers, and market watchers to witness a more accelerated pace of SHIB token burning.
According to Shytoshi Kusama, the ecosystem’s chief developer, the debut of Shibarium is scheduled for mid-month and will be announced at the next Blockchain Futurist Conference. A percentage of the transaction fees in SHIB tokens will be delivered to dead wallets as a result of the Shibarium launch, which will increase transaction activity in the larger Shiba Inu ecosystem.
Shibarium serves as the entry point for more significant pricing increases and other crucial protocol metrics.
