In recent news, another large amount of SHIB (Shiba Inu) coins has been burned, resulting in a significant increase in the burn rate. The SHIB community transferred 21,000,740 SHIB coins to unspendable addresses, leading to a 2,221% spike in the daily burn rate. This marks the seventh transfer to dead-end wallets, with the largest transfers being 18,973,108 SHIB and 1,000,000 SHIB. Despite this burn, many users are pressuring the SHIB team to perform bigger burns in order to boost the SHIB price. The SHIB team states that they cannot control burn keys, but higher burns can be achieved through increased utility of Shibarium. The price of SHIB has managed to recover by almost 6% over the past 24 hours, avoiding a critical price breakdown. Additionally, the lead developer has announced the listing of the new Shiba Inu ecosystem token TREAT, which aims to enhance network governance and offer rewards on the ShibaSwap dex.



Other News from Today