Shiba Inu burns 1.17B tokens, driving value up, as Shibarium surpasses 1.188B transactions, fueling ecosystem growth.
The Shiba Inu community reached a significant milestone in token burning on May 31, 2025. The ShibTorch system, responsible for burning SHIB tokens, reported 1,172,072,308 SHIB incinerated, marking a 5.62% rise from the previous week.
Shiba Inu Army Fuels Token Scarcity
The ShibTorch portal detailed recent burns over the past few days. On May 31 at 6:01 UTC, 20,579,943 SHIB tokens were eliminated. On May 28 at 20:44 UTC, 13,091,149 tokens were removed, and on May 27 at 5:30 UTC, 14,374,042 tokens were burned.
These efforts reflect the community’s strategy to reduce SHIB’s circulating supply, aiming to increase its value through scarcity.
Active participation in ShibTorch demonstrates the SHIB Army’s dedication to enhancing Shiba Inu’s standing in crypto.
Meanwhile, technical analysts note a potential price rally for Dogecoin (DOGE). As the Shiba Inu community pushes for SHIB scarcity, it may align with DOGE’s upward price trends.
Shibarium Surpasses 1.2 Billion Transactions
Shibarium, as announced by @Shibizens on X, shared a major update. The network has processed over 1.188 billion transactions, with 99,195K handled in the last 24 hours. With a block time of 5.02 seconds, transactions are confirmed swiftly.
Shibarium has recorded 11.268 million blocks and hosts 248.674 million addresses, indicating growing user adoption.
There are 270.22K active accounts and 28.727K smart contracts in operation. Six new contracts were introduced, and six were verified for secure use.
The network supports 15.267K tokens and has 6,802 verified contracts. In the past 24 hours, approximately 676.925 BONE in transaction fees were recorded on Shibarium.
BONE is the payment mechanism for Shibarium’s activities, showcasing the ecosystem’s efficiency.
Low Fees and High-Speed Boost Shiba Inu Adoption
Shibarium’s low fees and fast transaction speeds enhance the meme coin’s usability. High transaction volumes and a rising number of wallets reflect growing interest in Shiba Inu’s technology.
While the Shiba Inu community works to elevate SHIB’s value, regulatory developments elsewhere could impact the crypto landscape. For example, the IMF has cautioned Pakistan that its Bitcoin mining plans may threaten energy security and currency regulations.
