Shiba Inu’s ecosystem shows renewed signs of life, with a dramatic spike in its token burn rate and a major surge in blockchain activity. In the past 24 hours, SHIB’s burn rate soared by 22,598%, removing more than 25.7 million tokens from circulation, according to data from Shibburn.
This significant rise in the burn rate comes as activity on Shibarium, Shiba Inu’s Layer-2 blockchain, also sees a sharp increase. Network usage experienced substantial growth as daily transactions rose from 2.01 million to 3.1 million during this time period, increasing by 54%. The rising figures demonstrate that users from multiple segments of the Shiba Inu ecosystem are becoming increasingly involved.
Shibarium network activity has surpassed 1.13 billion transactions because the platform continues to gain more users. Wallet addresses have reached 204.18 million, which represents the maximum number ever recorded on the network. Blockchain activity continues to expand based on the extensive 10.79 million block count, which has been exceeded throughout the system.
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Massive Token Burns and Blockchain Growth Fuel Ecosystem Momentum
In addition to the 24-hour burn figure, weekly data reflects strong momentum. Over the past seven days, 337.66 million SHIB tokens have been burned, representing a 297% increase from the previous week. This coordinated effort to reduce token supply is accelerating as the community focuses on boosting SHIB’s long-term value.
While on-chain indicators show increasing support, the price of Shiba Inu continues to decline. On April 26, Shiba Inu achieved its highest price point at $0.00001525 before slipping to $0.00001231. The Shiba Inu token experienced a 2.5% decrease in 24 hours and registered a 6.8% decrease during the last week.
Investor profit-taking throughout the cryptocurrency market has likely caused SHIB to experience short-term price instability. Current price volatility, transaction metrics, and burn rate indicators highlight an increase in platform engagement capable of stabilizing SHIB’s value.
The Shiba Inu ecosystem appears to be heating up, with both utility and community engagement on the rise.
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