Shiba Inu’s daily burn stats drop to absurd levels: is this behavior uncanny or a start of a concerning trend?
The highly unusual case of Shiba Inu’s (SHIB) burns dipping to micro numbers has struck the Shiba Inu community out of the blue. Counted daily, this metric has dwindled to just 323,100 tokens burned over the past 24 hours, Shibburn reports. None of the 5 transactions exceeded 200.3K of the meme tokens.
Why’s Shiba Inu’s Bonfire Fizzling Out?
At less than $4, this paints a grotesque picture for Shiba Inu’s (SHIB) deflationary tactics, even though the remaining supply is already significantly reduced. Presently with 584.555 trillion Shiba Inu coins in circulation, the meme coin usually responds instantly only to batches of billions of tokens burned at once.
Besides, 4.69T of all Shiba Inu token supply is staked, meaning that most SHIB Army members expect long-term growth. That’s also well evidenced in the rising number of SHIB custodians with over a year of holding, according to IntoTheBlock’s real-time stats. Notably, the Shiba Inu burning speed rate highly depends on the usage of Shibarium L2.
Metaverse Upgrade Boosts Shibarium
As the Japanese guard dog-embossed crypto currency rolls on in the current price roller-coaster, Shibarium devs dropped a crucial update on SHIB: The Metaverse. The long-awaited digital world got a revamp in gameplay, letting Web3 gamers use lower RAM while enjoying sharper lighting & more detailed metaverse environment.
Performance across key SHIB: Metaverse areas like the Technology Trench, Bark Park & SHIB Station has been improved with over 200 texture presets to optimize GPU memory usage & make Shiba Inu’s Web3 heaven run on more devices, eventually launching Android & iOS versions. Upon the news, Shibarium’s total value locked (TVL) jumped 13.07% to $3.66 million.
On The Flipside
Why This Matters
Burning crypto tokens has been a proven way to reduce the coin’s supply, potentially boosting long-term market value.
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