🔥 Shiba Inu Burn Rate Explodes 12,000%: What’s Fueling The Shibarium Boost?

🔥 Massive $SHIB Burn Sparks Buzz

Shiba Inu’s burn rate soared over 12,000% in just 24 hours, removing 115.89 million SHIB from circulation. One wallet alone torched 92.64M SHIB. This sharp cut in supply has fueled bullish hopes, as fewer coins mean potential price upside under the supply-demand rule.

📉 SHIB Supply Check

After this burn, 410.72 trillion SHIB have been eliminated, while 584.35 trillion remain. This aggressive burning activity is a major focus for investors betting on a price rally.

🔗 Shibarium Hits Major Milestone

SHIB’s L2 blockchain Shibarium just crossed 1 billion transactions, per SHIB lead Lucie. Since launching in August 2023, the network has exploded in popularity, thanks to fast transactions and use cases tied to LEASH, BONE, and TREAT.

📊 SHIB Price Still Struggles

Despite all the bullish activity, SHIB is down 4%, trading near $0.00001224. It also posted a 20% weekly drop, causing hesitation among traders. Analysts point to strong resistance levels that SHIB hasn’t broken yet.

👀 What’s Next?

With increased burns and rising L2 use, SHIB’s fundamentals are improving. However, price action remains under pressure. All eyes now turn to whether market sentiment and whale interest can push SHIB toward a breakout.

⚠️ Disclaimer:

This post is for informational purposes only and does not constitute financial advice or endorsement.