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Data published by the prominent SHIB wallet tracker Shibburn has revealed a massive drop in the Shib burn rate that has occurred over the past 24 hours.
However, that did not stop the community from burning a significant amount of SHIB meme coins.
SHIB burns crash, but millions of coins still get torched
The aforementioned data source reported that over the past seven days, the key SHIB metric, burn rate, has demonstrated a drastic fall, as it collapsed by almost 100%. Still, this fact has not prevented the SHIB community from burning any meme coins.
According to the same tweet, over the past week, they have managed to transfer a total of 46,451,929 SHIB to unspendable blockchain addresses, which are also called “dead wallets,” for short. These millions of SHIB will be permanently locked there, having been moved out of the circulating supply.
The daily burn rate has also displayed a significant decline, dropping by 87.6%. This was the result of 180,292 SHIB being burned today so far.
Shiba Alpha Layer block explorer launched in beta
SHIB-related X account @Shibizens has spread the word about a major new development regarding the layer-3 Shib Alpha Layer that is currently running in test mode.
Per their tweet, the SHIB team has rolled out the Shib Alpha Layer block explorer in testnet. Her tweet clarifies that this block explorer was built specially for Shiba Inu’s layer-3 infrastructure, and it provides real-time access to block and transaction data.
The post stressed that the main difference between this explorer and general-purpose ones is that the new product by the SHIB team was created particularly for Shib Alpha Layer’s modular rollups.
“It indexes data instantly, enabling frictionless tracking of onchain activity with zero delays,” it stated, adding that release on mainnet is “on [the] horizon.”
The key features of the new block explorer are: live block and transaction data, instant indexing and no caching, network health and usage stats. Besides, according to the post, the new block explorer “simplifies contract monitoring, supports external verification, and aligns with Shibarium’s open-access ethos.”
Currently, the new tool is open for feedback from public testing.
Vladislav Sopov
U.Today Editorial Team