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Shiba Inu (SHIB) Burn Rate Skyrockets Over 600%, Still Unlikely to Rival Rollblock (RBLK)
The post Shiba Inu (SHIB) Burn Rate Skyrockets Over 600%, Still Unlikely to Rival Rollblock (RBLK) appeared on BitcoinEthereumNews.com. Shiba Inu has been on the rise this year in terms of burn rate, with the team and the community burning millions of tokens every week. In the current events, the burn rate of Shiba Inu has increased by 600% which is even higher than Ethereum. However, Rollblock is a new DeFi project that is emerging as a major competitor to Shiba Inu. Rollblock’s burn mechanism is unique and is way above that of Shiba Inu. Let us learn about this new burning mechanism. Shiba Inu (SHIB) Burn Rate Jumps 600% Data from Shibburn shows that the burn rate of Shiba Inu (SHIB) has spiked by about 600%. Over 10 million SHIB tokens were burned during this period, pushing the total number burned by the meme coin community to 410.7 trillion SHIB tokens. While this is a large figure, the Shiba Inu community still has a long way to go in reducing its circulating token supply. According to information from Shibburn, Shiba Inu’s circulating supply is above 583 trillion. The Shiba Inu team is working to launch an automatic burning mechanism this year. This could increase the rate at which the meme coin is destroyed in a bid to become the best crypto in the market. Ethereum (ETH) Burn Rate on a Steep Decline At the beginning of May, a news report revealed that there had been a decline in the number of Ethereum (ETH) burned daily. The primary reason that led to this decline in the amount of burned Ethereum was the rise in the gas fees. Regrettably, the situation remains the same, at least in the reason for ETH burns. According to the data obtained from TheBlock, the daily burnt Ethereum has been below 1.8k, with as low as 348 ETH burned on May 19th. In comparison, the…
The post Shiba Inu (SHIB) Burn Rate Skyrockets Over 600%, Still Unlikely to Rival Rollblock (RBLK) appeared on BitcoinEthereumNews.com.
Shiba Inu has been on the rise this year in terms of burn rate, with the team and the community burning millions of tokens every week. In the current events, the burn rate of Shiba Inu has increased by 600% which is even higher than Ethereum. However, Rollblock is a new DeFi project that is emerging as a major competitor to Shiba Inu. Rollblock’s burn mechanism is unique and is way above that of Shiba Inu. Let us learn about this new burning mechanism. Shiba Inu (SHIB) Burn Rate Jumps 600% Data from Shibburn shows that the burn rate of Shiba Inu (SHIB) has spiked by about 600%. Over 10 million SHIB tokens were burned during this period, pushing the total number burned by the meme coin community to 410.7 trillion SHIB tokens. While this is a large figure, the Shiba Inu community still has a long way to go in reducing its circulating token supply. According to information from Shibburn, Shiba Inu’s circulating supply is above 583 trillion. The Shiba Inu team is working to launch an automatic burning mechanism this year. This could increase the rate at which the meme coin is destroyed in a bid to become the best crypto in the market. Ethereum (ETH) Burn Rate on a Steep Decline At the beginning of May, a news report revealed that there had been a decline in the number of Ethereum (ETH) burned daily. The primary reason that led to this decline in the amount of burned Ethereum was the rise in the gas fees. Regrettably, the situation remains the same, at least in the reason for ETH burns. According to the data obtained from TheBlock, the daily burnt Ethereum has been below 1.8k, with as low as 348 ETH burned on May 19th. In comparison, the…
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