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Dog-themed cryptocurrency Shiba Inu (SHIB) continues its journey toward supply reduction with 410.74 trillion SHIB tokens now permanently removed from circulation.
According to the Shibburn website, 410,749,550,095,727 SHIB have been burned to date. The total SHIB supply now stands at 589,250,449,904,272.
At launch, Shiba Inu’s total supply stood at a staggering 1 quadrillion tokens. However, through burns and deflationary mechanisms, more than 41% of the initial supply has been depleted. In May 2021, Vitalik Buterin, the co-founder of Ethereum, burned 410 trillion SHIB tokens, representing 90% of the SHIB he unwillingly received from the Shiba Inu project.
Recent data from the Shibburn X account, which tracks Shiba Inu token burns, suggests active burns are ongoing in the Shiba Inu ecosystem.
In the last 24 hours, for instance, 537,187,730 SHIB were burned, resulting in an over 3,000% surge in burn rate. In the past seven days, 687,249,104 SHIB tokens were burned, representing a 481.17% increase in the weekly burn rate.
Shiba Inu: What's next?
Shiba Inu announced a partnership this week with TokenPlayAI, the AI-powered gaming platform developed by the Astra Nova team, to bring the future of Web3 gaming to SHIB.
Shib Alpha Layer, a rollup abstraction stack developed with ElderLabs and settled on Shibarium, has been released in beta, combining each RollApp into a single ultra-fast layer. Shib Rollups, a new platform that allows developers to create their own customized Layer-2 blockchains on Shibarium, has gone live.
According to Shiba Inu developer Kaal Dhairya, a new era might be unveiled for SHIB with Shib Alpha Layer.
The Shiba Inu developer hinted at what's coming next for SHIB in a recent tweet: "Next up: unleash full FHE, open RollApp deployment to everyone, and watch the Shib interconnected ecosystem eclipse blockchains that promised the moon and shipped markdown. Meme era ends here. The Shib Alpha era begins."
Vladislav Sopov
U.Today Editorial Team