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Amid the holiday season, Shiba Inu has seen a remarkable 17 billion SHIB burned over the last week alone. Moreover, that figure denotes a burn rate above 100%, a massively positive development for the meme coin. Indeed, Shiba Inu’s burn tracking platform, Shibburn, tweeted about the development. The strides in the burning of SHIB arrive as its layer-2 Shibaium network continues to experience massive positive. Specifically, BONE transfers within the network have officially exceeded the one million mark. Subsequently, the health of the Shiba Inu ecosystem could be a vital storyline heading into 2024. HOURLY SHIB UPDATE$SHIB Price: $0.00001079 (1hr 0.41% ▲ | 24hr -2.36% ▼ ) Market Cap: $6,347,884,981 (-2.16% ▼) Total Supply: 589,302,315,494,207 TOKENS BURNT Past 24Hrs: 6,882,493 (-87.05% ▼) Past 7 Days: 17,159,390,975 (98.7% ▲) — Shibburn (@shibburn) December 26, 2023 Also Read: Shiba Inu Forecasted To Reach 1 Cent, Here’s When ...

Shiba Inu and the cryptocurrency market had a very good start to 2023. The majority of cryptocurrencies were trading in double digits at the start of the year, which saw a positive rally. Read more: Central African Republic is Drafting a Cryptocurrency Bill Since the start of the year, Shiba Inu has also been exhibiting an increase in SHIB burns. However, it hasn’t been constant the entire time. The burn rate has increased significantly on some days, but it has also decreased noticeably on others. According to Shibburn’s details, the burn rate had decreased by 55.23% at the time of publication, with only 7,860,346 SHIB being sent to dead wallets. Source: Shibburn Shiba Inu price soars over 19% over the last seven days According to CoinMarketCap data, Shiba Inu is trading at $0.00001221, with a spike in value of 1% over the last 24 hours. SHIB has also gained over 19% over the last seven days and 45% over the last 30 days. The 24-hour trading volume h...