Shiba Inu team begins testing of automated SHIB token burn mechanism

The Shiba Inu ecosystem team member known as RagnarShib has provided a crucial update on the ongoing development of Shibarium's automated SHIB token-burning mechanism. The team is making significant strides in refining and testing the burn portal, a feature eagerly anticipated by the SHIB community.

Timeline of Shiba-inu

In a recently published tweet, the admin of the “Shibarium Tech” channel on Telegram @RagnarShiba clarified the misunderstanding that arose among some parts of the global Shiba Inu army regarding the new Shibarium burn mechanism and the “New Era” in SHIB burns.

In a recent tweet , RagnarShib mentioned that testing has begun on the burn portal, which the community has been eagerly awaiting. The burn mechanism for Shibarium was rolled out last month on Puppynet, the testnet edition of the L2 scaling solution.

Shiba Inu, one of the most prominent meme coins functioning atop the Ethereum blockchain, once again curated a tidal wave of speculations across the border crypto market on Friday, as the token's burn rate surged over 600℅, nabbing significant attention globally. As per on-chain insights unveiled by the burn tracker Shibburn, the Shiba crypto community

Shiba Inu (SHIB) remains a token of interest on the market as consolidation grips the majority of altcoins in an ultimate push for recovery. Shiba Inu's network numbers are mostly bearish; however, they are at a tipping point where the balance may soon skew toward the bulls.

The Shiba Inu (SHIB) token, once a hotbed of frenzied on-chain activity, is currently facing a cryptic slump. Data indicates that the burn rate — a mechanism where tokens are sent to an inaccessible wallet to reduce supply — has flatlined to 0%.

Shiba Inu, a leading meme coin on the Ethereum blockchain, created a buzz in the crypto market as it recorded a colossal upswing in its weekly burn rate. According to on-chain data from Shibburn, a platform providing insights into SHIB burning, the burn rate surged nearly 6000%, capturing the attention of global crypto enthusiasts.

Shiba Inu whales have been gobbling up the recent dip in Shiba Inu, with on-chain data showing some accumulating an enormous 2.39 trillion SHIB between them. SHIB's price has been on a downtrend since the beginning of the month, falling as low as 20% from the yearly open to reach $0.000008735 on January 8th.

Shiba Inu, one of the most prominent meme coins functioning atop the Ethereum blockchain, once again echoed a sense of frenzy across the broader crypto market on Saturday as the token marked a colossal upswing in its weekly burn rate. As per on-chain data surfacing over the crypto horizon, Shibburn, a platform facilitating SHIB burning

A cryptocurrency whale has recently sent a whopping 136.8 billion tokens of the meme-inspired cryptocurrency Shiba Inu ($SHIB) to a newly created wallet, at a time in which SHIB's burn rate has been increasing significantly. According to on-chain analysis service Lookonchain, a newly created whale wallet accumulated the 136.8 billion tokens worth over $1.

In an unexpected twist, the Shiba Inu token (SHIB) has undergone a remarkable surge in on-chain dynamics. The latest data from blockchain analytics platform IntoTheBlock reveals an astonishing spike of 1,300% in large whale transactions involving SHIB within the last 24 hours.