Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In the last 24 hours, the Shiba Inu burn rate has surged by a massive 27,014.16%, with a significant increase in the tokens burned in that time frame.
In the last 24 hours, 43,486,236 SHIB were burned, which is the largest so far in recent days. On Oct. 14, only 160,382 SHIB were burned, while on Oct. 13, over a million — 1,332,329 SHIB — were burned.
The surge in the daily burn rate coincides with a recovery in the SHIB price following yesterday's drop to a low of $0.0000102 before slightly rebounding.
At press time, SHIB was up 1.86% in the last 24 hours to $0.00001073 but down 11.62% in the last seven days.
Also in the last seven days, 59,449,906 SHIB tokens were burned, resulting in a mild 27.78% increase in weekly burn rate.
Shibarium Plasma bridge reactivated
The Shiba Inu team has announced that Plasma Bridge is back online for users to utilize for BONE, following a comprehensive review and a series of security enhancements. This implies that users can once again bridge BONE between Ethereum and Shibarium following the exploit incident that occurred last month.
New safeguards have been put in place, which allow blacklisting to block malicious addresses and a seven‑day withdrawal delay for finalizations.
The Shiba Inu team added that it was working to reenable bridging for additional tokens in staged rollouts, applying the same testing and review standards.
The team is also finalizing, in parallel, a fair and transparent repayment framework for affected users, with details to be shared through official channels once it is safe to do so.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team