Shiba Inu burning rate It showed a dramatic decline, according to data she recently shared Shipburn blockchain tracker. Meanwhile, SHIB price showed movement in a completely different direction.

SHIB burns for SHIB price

While burns have collapsed by more than 64%, Shibburn's website says, the SHIB community has successfully burned 3,166,691 SHIB meme tokens in the past 24 hours.

Six burn transactions over the last day accomplished the task, with the largest transferring 1,040,537 and 1,008,249 Shiba Inu meme coins.

On Monday, the SHIB Army burned through a slightly larger amount, cumulatively converting nearly 10,000,000 SHIB into unspendable wallets.

Meanwhile, the burn rate this time is not related to the SHIB price. Over the past day, the second most popular meme-themed cryptocurrency, Shiba Inu, saw a rise of more than 10%, rising from $0.00002117 to the $0.00002336 price level.

Shibarium is approaching a major new milestone

the Shibariumscan explorer detects That layer 2 blockchain is looking to achieve a major new milestone. The total number of transactions currently stands at 698,969,876, and is rapidly moving towards the 700 million mark.

The total number of daily transactions on Shibarium now stands at 4.71 million. This is significant growth since December 12, when this metric had 4.58 million conversions. The recently added “Latest Transaction” section displays 175,088 new transfers. The number of wallets connected to the network now stands at 2,021,457.