In a breathtaking development: Shiba Inu lists 3,000%increase in the burning rate and burns over $ 472 million Shib-token

In a breathtaking development: Shiba Inu lists 3,000%increase in the burning rate and burns over $ 472 million Shib-token
Shiba Inu (Shib) has experienced an astonishing increase in the burning rate in the last 24 hours by over 3,000 %, which led to the fact that $ 472,351,642 Shib-token was destroyed. The wallet address 0x881d5c9886a08f90a60e3f94f0e461093d049 burned over $ 22,543,426 shib tokens.
Despite this latest Burn event, the price of Shiba Inu (Shib) is currently $ 0.00000746. In the last 24 hours, the Shib Prize moved in a range of $ 0.00000746 to $ 0.00000779, which indicates a relatively stable trading range.
The market capitalization of Shiba Inu has experienced a slight decline. The current market capitalization is $ 4,469,406,075, which corresponds to a decline of 2.00 % compared to the previous period.
However, there are positive indicators for Shiba Inu. According to data from Santiment, a renowned crypto analysis company, the burn has had an impact on the price and market capitalization of Shiba Inu. $ Shib gradually wins the traders' attention back after experiencing a light course jump over the weekend.
Despite the decline in market capitalization, there are other encouraging indicators within the Shiba Inu ecosystem. Santiment emphasizes the positive signs that can be observed in the WAL transactions and the circulation of Shib tokens. These are good signals for the further development of Shiba Inu.
The ShiB chief developer, Shytoshi Kusama, announced last week that the Shibarium Mainset release and World Papers will come in August. This announcement led to an increase in the Shibarium gas token Bone Shibaswap (Bone) tokens by more than 35.49 % last week.
Shibarium is a well-expected project connected to the popular $ Shib token. It will bring an unprecedented Burn mechanism that promises to burn trillions of $ Shib tokens. This could have positive effects on the price and market capitalization of Shiba Inu.
Overall, there are many interesting developments in the Shiba Inu ecosystem. With the upcoming Shibarium release and the positive signs in the WAL transactions and the circulation of Shib-tokens, investors are excited about the further development of Shiba Inu. It is recommended to observe the market carefully and to keep an eye on the news and announcements related to Shiba Inu.