According to Shibburn statistics, the burn rate in the Shiba Inu (SHIB) ecosystem has increased dramatically, rising by 612% in a single night.
To permanently remove SHIB tokens from circulation, more than 3.2 million of them were delivered to inactive addresses. Since the start of the burn program, more than 410.74 trillion SHIB tokens have been burned overall.
With 584.2 trillion SHIB in circulation at the moment, the community is still dedicated to lowering the amount in circulation. The burn rate, which reflects the efforts to deflate the supply during continuous market contraction, is a crucial indicator for assessing the health of the ecosystem.
SHIB Price Struggles Amid Burn Increase
At the time of writing, SHIB’s price was $0.00001994, down -2.46% over the previous day and -9.28% over the previous week. Shiba Inu still has trouble holding onto its attractiveness, with a market valuation of about $11.74 billion and a 24-hour trading volume of $294.2 million.
SHIB, which was formerly renowned for its abrupt price fluctuations, is currently exhibiting less volatility, which has diminished its appeal to speculative investors.
The asset is in a worrying phase when it drops below the critical $0.00002 threshold, indicating that traders’ attitudes have worsened.
Shiba Inu Lead Developer Teases ShibOS Launch
Shytoshi Kusama, the lead developer of Shiba Inu, recently announced the release of the Shib Operating System (ShibOS). The platform is a “Next-gen operating system that delivers a turnkey solution for Web2 to Web3 transition,” according to Shytoshi.
Developers may create high-performance, scalable, privacy-conscious apps for a range of use cases thanks to the multi-layer approach.
There are 36 distinct chambers available on the ShibOS platform, each with a distinct function. Among these are elements like the Shiba Inu Doggy DAO, Super HUB FUN, Shib Finance, Tournaments Engine, and an NFT Collection.
Shiba Inu’s potential inside the blockchain ecosystem is increased by this development, which positions it as more than merely a meme coin.
ShibOS Value Proposition
The ShibOS project offers a range of capabilities that address several blockchain technology domains. While some chambers, like the Shib Events & Ticketing Engine, target real-world applications, others, like the FHE-Powered identification Stack, concentrate on privacy and identification solutions.
The operating system seeks to give users an extensive toolkit for creating scalable and effective decentralized apps (dApps). Shiba Inu hopes to draw developers and users searching for more useful use cases within the ecosystem by providing such features.
Continuous attempts to fortify its ecosystem are seen in Shiba Inu’s emphasis on decreasing its token supply and increasing its functionality through ShibOS.
However, its future course will probably be greatly influenced by investor sentiment and market conditions.
