The Shibburn transaction tracker reveals a remarkable surge in the SHIB ($0.00) burn rate over the past 24 hours, with an increase of 65,529.67%. The SHIB community transferred more than 2.65 million Shiba Inu tokens to unspendable wallets. Despite this massive burn activity, the SHIB price saw a 3% decline, reflecting no immediate positive impact on its market value.

_{Source: Shibburn}

Significant Burn Transactions

The last day saw six burn transactions, with the two largest transferring 1,519,776 SHIB and 1,518,909 SHIB to dead-end addresses. Both came from the same anonymous wallet ending in -521f, with transfers 22 hours and 5 hours apart.

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The smallest transfer burned 2,054 SHIB about 21 hours ago. On Thursday, no SHIB tokens were burned, resulting in an unusual -100% burn rate for that day. Overall, the Shiba Inu community, alongside developers, has successfully burned 410.73 trillion SHIB tokens since the project’s inception in 2020, representing nearly half of the original one-quadrillion supply.

Shibarium Layer-2 Blockchain Sees Rapid Growth

Shiba Inu’s layer-2 blockchain, Shibarium, is also making waves, recording new highs in several metrics this week. According to Lucie, the Shiba Inu team’s marketing lead, daily transactions on Shibarium soared to 4.77 million on October 24, compared to 1.7 million just two days prior. 

This marks a staggering 180% increase, tracked by the Shibariumscan explorer, which shows an impressive total of 427,578,464 lifetime transactions.

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The number of accounts on Shibarium has seen notable growth as well, surging from 127,588 on October 21 to 171,199 by October 25—a 34% increase in just a few days. Lucie expressed excitement over Shibarium’s growth, noting that development teams are working at full speed to support ongoing advancements. 

As SHIB continues to expand its blockchain ecosystem and community engagement, investors are keenly watching for further impacts on its value and long-term sustainability.

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