Shiba Inu (SHIB) has sparked the crypto market with a significant price increase, piqued the curiosity of traders and investors.
This spike coincides with a decrease in SHIB token burning, a process regularly observed by the Shibburn platform.
Shibburn’s most recent data shows that Shiba Inu’s burn rate has decreased by 34.89% in the last twenty-four hours.
During this time, 5.94 million SHIB tokens were burned. Interestingly, the burn rate fell by 43.33% over the past week, with a total of 130.90 million SHIB burned during this time period.
In a series of transactions, the Shiba Inu community has actively burned SHIB tokens, torching an astonishing 410.662 trillion SHIB tokens to date.
This substantial burning effort is a testament to the community’s dedication and support for their token. Despite these efforts, the SHIB price did not see a significant surge on November 23, prompting the community to intensify token burning activities.
In parallel, the Shibarium testnet witnessed a remarkable surge in activity. Notably, the testnet had remained relatively dormant in recent weeks, with no transactions recorded.
However, starting from November 9, the Shibarium testnet experienced a surge, boasting a whopping 400,000 transactions. This uptick in testnet activity has become a focal point in the broader crypto markets.
As the Shiba Inu community navigates fluctuations in token burning rates and the Shibarium testnet gains momentum, the crypto landscape awaits to see how these dynamics will influence the future trajectory of Shiba Inu’s price and market position.
