Shiba Inu Coin News: According to the Shibburn website, the Shib burn rate has increased by a whopping 4636.07% in the last 24 hours. A total of 754,187,142 $SHIB Tokens have been burned in the last 24 hours. The Shib burn rate refers to the number of Shib tokens that are destroyed or taken out of circulation. This process is known as burning and is done to reduce the supply of the token which can increase its value over time. The largest transaction is 733,024,321 million Shib Tokens.

Shiba Inu value is rising

While, Shiba Inu price is up 4.81% in the last few hours. Each SHIB token is currently trading at USD 0.00001092. The coin is up more than 9.54% in the last 7 days. However, the market capitalization has dropped to USD 6.43 billion and the trading volume is up 30.22%. Source: coinmarketcap

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FUD surrounds Shibarium

The Shiba Inu Project is a decentralized ecosystem that aims to provide users with a platform to transact, stake and participate in governance using the SHIB token. In the meantime, shiabrium Beta was made live on March 11, 2023. The highly anticipated launch was also responsible for the recent surge in the price of Shiba Inu.

Shibarium is a project that aims to create a decentralized exchange (DEX) and liquidity pool for the Shiba Inu cryptocurrency. The project has been endorsed by the Shiba Inu community and has received a lot of attention and support in recent months. However, some people have expressed concerns about the legitimacy of the project and the developers of the project, and that the white paper of the project does not provide details about technical aspects and implementation plans.

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Others have raised concerns about the project’s token, called SHIBArium (SHIBA), which was created as a utility token for the platform. Some critics have argued that the token has no real use and is being used solely as a means of raising money for the project.

Despite these concerns, Shib Army has argued that the project has strong community support and is being developed in a transparent and open manner. They have pointed to the project roadmap and development updates as proof of the project’s progress.

Shourya is a fintech enthusiast who mainly reports on cryptocurrency prices, Union Budget, CBDC and FTX collapse. Get in touch with her [email protected]

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

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