Shiba Inu (SHIB) Burns 89% Less in June Despite Exciting Developments

Shibburn, the well-engaged crypto tracker, has tweeted the amount of Shiba Inu (SHIB) tokens burned during the month of June. Over the course of the past 31 days, nearly 1 billion $SHIB have been burned, as reported by Shibburn. This translates to a notable percentage decrease of approximately 89.25% in token burn from May to June.

Shiba Inu Burn Dropped

The Shiba Inu (SHIB) token burn has undergone a substantial decrease from May to June. In May, a total of 15,369,335,177 SHIB tokens were burned, reflecting the community’s efforts to reduce the token supply. However, in June, the burn rate dropped significantly, with only 1,653,845,435 SHIB tokens burned.

While the token burn decreased significantly from May to June, the ecosystem’s developments and milestones suggest continued progress and engagement within the Shiba Inu community. $SHIB current price stands at $0.000007619, reflecting a modest 1.26% increase in the last 24 hours.

Also Read: SHIB Bags New Listing In Asia..

Announcements of Metaverse updates, Shibacals, and World Paper by Shib lead developer led to significant price surges this month. Post crypto bullish air followed by BlackRock Spot BitcoinETF filing, Shiba Inu also experienced a surge of

Shib Community In June and Ahead

In May, Shiba Inu made substantial progress with its layer-2 scaling solution, Shibarium. Few days ago, it achieved a noteworthy milestone during its Beta Testnet phase. The total value of transactions performed on Shibarium crossed the $25 million mark, as reported by CoinGape.

Also Read: Why Shiba Inu Holders Urged To Move $SHIB Tokens From CEX to DEX

CoinGape reported that Shib team shared the teaser of Rocket Hub in metaverse. Additionally, two captivating new destinations, Game Changer and Ryoshi Plaza, were introduced in official blog post. Shyotoshi Kusama, the pseudonymous lead developer of the Shiba Inu ecosystem, unveiled the upcoming release of the “worldpaper,” a comprehensive guide to the SHIB ecosystem and annouced his exit when time comes.

However, amidst these developments, the Shiba Inu community faced an unexpected hurdle. The burn tracker Twitter account, Shibburn, which actively engaged with the crypto community, was suspended temporarily. After a few days, the account resumed its operations, bringing relief to SHIB enthusiasts.