- SHIB burn rate drops drastically, but destruction efforts continue strong.
- Millions of SHIB tokens are still sent to dead wallets weekly.
- New Shib Alpha Layer explorer goes live in public beta.
Shibburn, a prominent SHIB wallet tracker, has revealed that the Shiba Inu token burn rate has dropped dramatically over the past 24 hours. Despite this sharp decline, the SHIB community has still succeeded in burning millions of tokens, maintaining its commitment to reducing the overall supply.
According to data shared by Shibburn, the burn rate for SHIB plunged by nearly 100 percent over the past week. Despite this harsh plunge, the number of SHIB coins transferred to dead addresses totaled 46,451,929 between the same timeframe. Such tokens are thus out of circulation and can never be used again.
However, within 24 hours, only 180,292 SHIB tokens were destroyed. This shows a huge decline in the daily burn rate, which is 87.60 percent, compared to previous days. Nevertheless, the community has not been left wanting regarding their consistent attempt to drive tokens out of supply.
The reduction of the burn rate has not been reflected in other ecosystem parameters. Meanwhile, one development related to the SHIB ecosystem witnessed developers introducing a principal infrastructure upgrade, namely the deployment of the Shib Alpha Layer block explorer.
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New Shib Alpha Layer Explorer Now Open for Public Testing
According to SHIB-linked X account @Shibizens, the new explorer was rolled out in beta for testing on the Shib Alpha Layer. It is a specifically designed Layer 3 network tool with live access to block and transaction data.
The explorer is also distinguished by the real-time indexing of information, which enables users to access blockchain activity without time lag. It can also provide network health statistics and contract tracking, which are valuable features of transparency in the ecosystem.
In contrast to general-purpose explorers, this exploration was optimized to serve the modular rollups of the Shib Alpha Layer. It facilitates external contract verification, aligning with Shibarium’s overall open-access approach.
Despite the steep fall in SHIB’s burn rate, the community continues to eliminate millions of tokens weekly. At the same time, the rollout of the Shib Alpha Layer explorer signals steady progress in developing the network’s infrastructure.
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