Shiba Inu Burns Elevate 579% Despite Shibarium Activity Drop
Shiba Inu’s mutual community efforts sparked a bullish flame with nearly 10M SHIB tokens put out of circulation.
• SHIB Army blazed 9.83M SHIB tokens in 12 transfers to burn wallets. • Shibarium L2 has witnessed stagnant transaction activity for over a month. • Correspondingly, Shibarium’s gas token BONE faces turbulence at $0.60.
The second largest meme currency, Shiba Inu (SHIB), remained relatively stable over the past seven days, as most popular altcoins traded sideways during the period. However, a sudden increase in community burns has piqued the interest of the SHIB Army, as 9,834,217 SHIB blazed in 12 transactions on Monday spiked the daily burn rate by 579%.