The SHIB army was successful in burning a significant portion of their meme coins during the previous week, according to statistics provided by the Shibburn cryptocurrency transaction tracker.
The pricing has also begun to try to make up previous losses by the end of the week.
Nearly 2 billion SHIB removed
1,740,061,669 Shiba Inu have been recorded during the past 7 days. However, the tweet claims that this is about 70% less than what was burnt the week prior. The “burned” tokens have all been taken from circulation and placed in wallets that cannot be withdrawn.
8,029,996 SHIB worth of meme coins have been burnt within the last 24 hours. This is a “zero percent” change from yesterday, according to the Shibburn chart.
Overall, SHIB burn results this week have been odd. The burn rate occasionally surged to above 30,000% and occasionally faltered to zero percent.
SHIB price action
SHIB, the second-largest meme cryptocurrency by market capitalization, has seen a price decline of nearly 13% during the previous week. But it has managed to gain 2.36% during the last 24 hours.
Shiba Inu is currently being traded at a price of $0.00000881. SHIB has yet to successfully “burn” the zero it recently inserted.
Shiba Inu leaves status of meme coin behind
Shiba Inu has made significant strides this year to transcend its image as a simple “meme coin.” The Shibarium Layer 2 network known as Puppynet was ultimately deployed as a beta by the development team lead by the fictitious Shytoshi Kusama.
Millions of transactions have been completed on this testnet to date, connecting more than 14 million wallets. Kusama had anticipated the mainnet’s debut before May, however it appears that the developers’ initial estimates were too optimistic.
In addition, SHIB has been listed on several big and little cryptocurrency exchanges. Even Shiba Inu has been relocated from Binance’s Innovation Zone, where potential tokens are being evaluated in real trading scenarios.
Additionally, the SHIB community has grown significantly, and several influential crypto figures have backed the currency, including Jeremie Davinci, a billionaire early Bitcoin investor, and David Gokhshtein, the creator of Gokhshtein Media.
