Shiba Inu’s recent activity has once again brought it to the forefront of the cryptocurrency world. In a market dominated by widespread uncertainty, Shiba Inu (SHIB) has managed to show resilience for some time. Three critical metrics observed in the last 24 hours indicate that the meme coin is on the path to recovery.
Shiba Inu Recovered in the Last 24 Hours
Firstly, the increase in SHIB’s price is noteworthy. Currently trading at $0.00001366, the token has recorded a 3.6% increase in the last 24 hours. For SHIB, which experienced a decline of more than 6% over the past week, this increase is considered a promising development. Those closely following Shiba Inu’s price movements see this rise as a positive signal.
Another important metric is SHIB’s burn rate. Since the activation of the Shibarium Burn portal, the burn rate, which had been below expectations, has reached 24.71% according to the latest data. The rate indicates that more than 1.4 million tokens have been burned. Although it seems like a small number, this development stands out as a sign of the community’s determination to reduce the token supply.
Transaction Count on Shibarium Network Increased
Lastly, there has been a significant increase in the total number of transactions on the Shibarium network. On September 1, approximately 2,190 transactions took place, while by September 2, this number had doubled to 4,240. The increase is seen as a reflection of the renewed positive sentiment in the market.
The Shiba Inu development team, led by Shytoshi Kusama, states that they are doing their best to improve the Shibarium network and the overall Shiba Inu ecosystem. As a result of these efforts, new products that attract significant interest from the community continue to be launched. For example, Shiba Inu’s new game Agent Shiboshi has been released on the App Store for iOS users. Additionally, the protocol plans to transition to a DAO governance model to empower the community further.
Shiba Inu’s recent moves have shown that it is progressing with both a technical and community-focused strategy. The performance of SHIB during this process could be decisive not only for its future but also for the overall meme coin market. Therefore, it seems that Shiba Inu’s developments in the coming days will continue to be closely monitored.
