The Shiba Inu community is steadily reducing the circulating supply of the meme coin, Shiba Inu, according to the Shibburn wallet tracker. In the past 24 hours, the burn rate of Shiba Inu has increased by over 772%, and the community has burned a total of 15,089,691 SHIB in three transactions. The majority of the burned coins were transferred to an unspendable address, while the remaining coins were moved to dead-end wallets. Over the weekend, the burn rate witnessed significant growth, with a record amount of 232,222,042 SHIB burned. Currently, there are 583,494,740,394,717 SHIB in circulation, with 410,728,825,806,575 SHIB locked in dead-end wallets. The official Shiba Inu marketing lead, Lucie, defended the future of Shibarium, the layer-2 blockchain built for the Shiba Inu ecosystem, highlighting the success of ShibaSwap in attracting $1 billion in staked funds. Despite criticism, Shiba Inu has seen a 2.92% increase in the past 24 hours and a significant rise of 13.35% since September 18.



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