Shiba Inu burned 1.17 billion tokens as Shibarium reached 1.188 billion transactions, reducing supply and boosting ecosystem activity.
The Shiba Inu community accomplished a significant objective in token burning on May 31, 2025.
The ShibTorch system, responsible for the incineration of SHIB tokens, reported the destruction of a total of 1,172,072,308 SHIB.
This figure indicates a 5.62% rise relative to the preceding week.
Shiba Inu Community Fosters Token Scarcity
The ShibTorch portal provided information regarding recent burns that occurred during the preceding few days.
On May 31 at 6:01 UTC, 20,579,943 SHIB tokens were incinerated. On May 28 at 20:44 UTC, 13,091,149 tokens were eliminated.
On May 27 at 5:30 UTC, 14,374,042 tokens disappeared.
These measures are integral to the community’s strategy to reduce the overall supply of SHIB tokens.
The purpose of incinerating Shiba Inu tokens is to reduce the supply, hence potentially enhancing their value.
The latest fires demonstrate the community’s active engagement in promoting this objective.
Their involvement in ShibTorch demonstrates that the SHIB Army is deeply committed to enhancing the visibility of Shiba Inu within the cryptocurrency sector.
Concurrently, technical analysts are emphasizing a potential surge in the price of Dogecoin (DOGE).
The Shiba Inu community’s efforts to enhance SHIB’s scarcity may enable it to replicate DOGE’s price increase.
Shibarium Has Processed 1.2 Billion Transactions To Date
Concurrently, Shibarium disseminated its updates. Posted by @Shibizens on X, this update delineates the developments concerning Shibarium during the day.
The network has processed over 1.188 billion transactions, including 99,195K, in the last 24 hours. Transactions are validated rapidly, with a block time of 5.02 seconds.
Shibarium has recorded 11.268 million blocks. Currently, there are 248.674 million addresses, indicating the increasing number of users on the Shiba Inu network.
Currently, there are 270.22K active accounts and 28.727K operational smart contracts.
Six new contracts were initiated, and six other contracts were validated to ensure their safety for usage.
Shibarium supports 15.267K coins and is further validated by 6,802 verified contracts.
Approximately 676.925 BONE in transaction fees has been documented in the past 24 hours on Shibarium.
BONE functions as a payment method for transactions conducted on the Shibarium network. It illustrates how the Shibarium is functioning to maintain the efficiency of the Shiba Inu ecosystem.
Minimal Fees, Accelerated Speed Propel Shiba Inu Adoption
This meme coin is utilized more conveniently due to its rapid transaction speed and minimal fees within the network.
The proliferation of active transactions and an increasing quantity of wallets indicate heightened interest in Shiba Inu’s technology.
The Shiba Inu community’s endeavors to enhance SHIB’s value may be affected by regulations in other jurisdictions within the cryptocurrency sphere.
The IMF has cautioned Pakistan that its intentions to mine Bitcoin may jeopardize energy security and currency regulations.