This week, over 1.7 billion SHIB tokens were burned, according to the Shibburn cryptocurrency transaction tracking platform. This is nearly 70% less than was burned the week before. Despite this large decrease in burnt tokens, the price of SHIB has ncreased and has managed to gain 2.36% in the past 24 hours.
The meme coin has not been able to “burn” the zero it added previously. This year Shiba Inu has taken strides to outgrow its meme status, with the launch of a Beta of Shibarium Layer 2 network, Puppynet. More than 14 million wallets have connected and millions of transactions to this testnet has been performed.
SHIB has been listed on a variety of large and small crypto exchanges, as well as having been moved out of the Innovation Zone, where promising tokens are tested by Binance. The SHIB community has also expanded and has been supported by influencers in the crypto world, such as the founder of Gokhshtein Media David Gokhshtein and early Bitcoin investor, Jeremie Davinci.
Despite the promising attempts by Shiba Inu, the SHIB price has plummeted 13% in the past week,however , its future seems bright with the support and technology backing it.
Gabrielle Cook
- 2023-05-13
Shiba Inu Price Drops Despite 1.7 Billion Tokens Burnt
This week, 1.7 billion SHIB tokens have been burned according to the Shibburn cryptocurrency transaction tracking platform, but the price of SHIB still managed to increase. Shiba Inu has taken strides to outgrow its meme status and has been supported by crypto influencers. Despite the promising attempts, its price has dropped 13% in the past week.
