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305.77M SHIB Tokens Burned: Shiba Inu Proves It’s More Than Just a Meme Coin

• The Shiba Inu community has been burning SHIB coins aggressively to reduce the overall token supply and boost its value.
• Last week, 305.77 million SHIB tokens were burnt in total through multiple transactions.
• Shiba Inu is creating a buzz in the industry due to its evolution from a meme coin to a robust decentralized ecosystem.

Burning of SHIB Tokens

The Shiba Inu community has been actively reducing the token supply in the system by triggering an aggressive token-burning mechanism. Over 305.77 million SHIB tokens were burned last week through multiple transactions, with an anonymous wallet contributing 15.57 million SHIB tokens to this burn rate.

Evolution of Shiba Inu

Shiba Inu has evolved impressively over time into a robust decentralized ecosystem, earning it recognition by blockchain security firm Certik and making it the most traded crypto asset on India’s largest crypto app, CoinSwitch.

Shibarium Layer 2 Solution

The development of Shibarium’s layer 2 solution has created even more interest in Shiba Inu as it makes use of strong scalability features that can support high transaction throughputs at low costs.


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Ripple vs SEC Court Update

As regards Ripple’s case against SEC, there are speculations that a ruling may come next week as both sides have submitted their arguments before the court.