The Shiba Inu community has burned (burned) a large number of SHIB tokens in the past 24 hours. According to Shibburn.com data, 17,434,272 (17.43 million) SHIB tokens were sent to a “dead wallet” through eight separate transactions.
The two largest burn transactions came from a wallet linked to the decentralized crypto exchange called Uniswap. These transactions resulted in the permanent removal of 6,111,360 and 6,153,724 SHIB tokens from circulation. Both transactions were made in the last 24 hours, according to data from Etherscan.io.
Despite these large burn transactions, the overall burn rate for Shiba Inu was down 26.24% compared to the previous day.
How is the situation with Shiba Inu?
According to data from the official website of Shibburn.com, a total of 410.38 trillion SHIB tokens have been permanently withdrawn from circulation so far, while 571.66 trillion SHIB tokens remain in circulation.
In addition to the constant token burns, there is more to the second largest meme coin. As Newsbit previously reported, a launch of a Layer 2 scaling solution called ‘Shibarium’ seems imminent. This is according to comments from the lead developer of the project named Shytoshi Kusama.
The fact that the launch of the long-awaited Shibarium is imminent is good news. The coin has recently enjoyed a lot of attention again and is the number 1 trending coin on several sites.