Shiba Inu (SHIB) has seen a 5 percent price increase in the last week, with a strong response to the Shibarium launch. The Shiba Inu ecosystem has seen a notable increase in its token-burning program, with over 2.3 billion SHIB tokens burned last month. The SHIB price surge comes following the strong response to Shibarium after its successful relaunch last month. Within weeks of launch, the Shibarium network clocked 3 million transactions and 1.2 million wallet addresses. Additionally, Shibarium is poised to potentially defy the expectations of some community members who anticipated disappointment.The token supply metrics within the Shiba Inu ($SHIB) ecosystem tell an intriguing story of its development. With an enormous total supply originally set at 410,660,497,072,389 tokens, the project has seen substantial efforts to reduce this supply, resulting in the elimination of nearly 1 quadrillion tokens from its initial issuance. The maximum total supply is capped at 589,339,502,927,610 tokens, demonstrating careful management of token issuance.Shiba Inu’s token-burning program continues at a commendable pace, with more than 2.3 billion tokens effectively removed last month, amounting to over $17,500 based on current exchange rates. In the past 24 hours, SHIB’s burn rate has seen a remarkable surge, spiking by an astonishing 940 percent. This sharp increase in the burn rate has effectively eliminated over 164 million SHIB tokens from the circulating supply.Last week brought some notably positive news for the cryptocurrency community as HSBC Bank unveiled its integration of SHIB and XRP into its payment system. Wirex and Onramper made a joint announcement, revealing their plans to introduce a crypto payment system covering over 190 countries, and they have chosen SHIB as one of the selected tokens for adoption. Investors can buy Shiba Inu (SHIB) quickly and securely with PayPal, credit card or bank transfer at eToro.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 8 |
| People | None |
| Companies | Onramper, SEC, Wirex, HSBC Bank, FINRA |
| Currencies | US Dollar, Ethereum, Bitcoin, Euro, Shiba Inu |
| Securities | None |
