In recent days, the popularity of the Shiba Inu (SHIB) cryptocurrency among investors has soared, attracting the attention of cryptocurrency market enthusiasts. Meanwhile, Shibburn (a platform that provides insight into Shib burning rates) reported a significant increase in Shiba Inu's burning activity.
At the same time, the number of transactions on the Shibarium platform has increased significantly, increasing the curiosity of investors. The surge in Shibarium burn activity and increased trading volume has sparked speculation and discussion within the market, especially among MEME coin enthusiasts and the SHIB community.
SHIB Burn and SHIBIUM Trading.
During a vibrant week at Shiba Inu, the burn rate soared by 28733%, resulting in 5 burns in the last 7 days070.2 billion SHIB tokens. Notably, the burn rate on November 27 spiked by 500,000% in 24 hours, a huge contribution, with 264.2 billion SHIB tokens. Subsequently, on November 28, the burn rate spiked again by 10,65365%, destroyed 2975.7 billion SHIB tokens.
At the same time, the highest number of burned transactions in the past week was 261.4 million, 109.19 million, 82.86 million and 21.52 million, respectively. Notably, the recent burn brought the total number of SHIB token burns to 41066 trillion with a circulating supply of 58049 trillion.
On the other hand, Shibarium, a Layer 2 blockchain network connected to Shiba Inu (SHIB), continues to thrive, providing a scaling solution for faster and more cost-effective transactions within the Shiba ecosystem. Meanwhile, Lucie, a technology and marketing specialist at Shiba Inu, reported a record 5.11 million daily transactions and attributed the success to increased traffic, gasoline*** and increased burning activity.
At the same time, the platform has achieved a total of more than 1.9 million blocks, more than 13.26 million transactions, and more than 1.27 million wallet addresses. Notably, Lucie highlighted that Shibarium's growth momentum is gradual and steady, demonstrating its resilience in the face of changing market dynamics.
Shiba Inu** with performance.
As of this writing, Shiba Inu** has soared 118% and 000000842 USD while trading volume is down 1632% to $97.59 million. At the same time, in the last 7 days, the meme coin** has increased by about 12%, and its 30 days**also**5%.
Some analysts attribute the recent Shiba Inu to an increase in incineration activity and a surge in Shiba Inu. Notably, these updates have injected optimism into cryptocurrency enthusiasts and boosted market participants' confidence in cryptocurrencies.
However, the recent spike could also be due to the bullish momentum in the broader market, as well as Bitcoin's new yearly high today. As of the time of writing, the global cryptocurrency market** 076% to 1$46 trillion.
Notably, Bitcoin** touched 38,954 todayA new high of $11 reflects traders' growing interest in the digital asset space.