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The Shiba Inu community continues to remove meme coins from the circulating SHIB supply, even though the burn rate currently remains at 0.00%. Still, even this reading of this metric has turned out bullish.
Meanwhile, the SHIB price has dropped significantly over the past day.
SHIB burns show 0.00%, but here’s bullish pivot
According to the popular on-chain tracking platform Shibburn, over the past 24 hours, the burn rate has not moved from the 0.00% level. But even despite this, the source reveals an impressive amount of meme coins that has been torched over the past 24 hours.
Namely, the SHIB team has managed to transfer 23,767,888 SHIB to unspendable wallets. The two largest burn transactions here carried 17,513,134 SHIB and 5,654,684 SHIB thirteen hours and one hour ago.
The 0.00% reading is likely down to some technical issues faced by the Shibburn website for now.
Major Shibarum guide posted by SHIB team
The “Shibarium BONE/Updates” account (@Shibizens) affiliated with the Shiba Inu development team has published a long-read about the wide range of opportunities offered to developers by layer-2 solution Shibarium.
According to the post, Shibarium allows builders to create decentralized applications (dApps) — from DeFi protocols to NFT marketplaces with low transaction costs, fast speed and “a vibrant community to support your vision.”
All those who build and then run their dApps on Shibarium have access to ShibOS, offering native support for Shibarium tools and standards. There is also the Developer Hub that devs can assess easily, which is a “command center for building on Shibarium.”
Shibarium offers testing new testnet builds via the “Faucet.” Users and developers can use Shibarium’s bridge to move assets across several blockchains, including Ethereum, securely.
Finally, everyone who actively uses Shibarium can help torch Shiba Inu coins via the official community-driven burn portal, “helping reduce token supply while increasing long-term value.”
Vladislav Sopov
U.Today Editorial Team