The Shiba Inu (SHIB) token has experienced a notable increase in its burn rate, reaching 1000%, resulting in the removal of 51.76 million tokens from circulation. Overall, the total weekly burn amounted to 2.44 billion tokens, which reflects a strategic effort to limit supply and potentially enhance token value.
Additionally, the Shibarium network has seen an impressive expansion, achieving 2 million registered wallet addresses, signaling growing interest and participation in the SHIB ecosystem. Despite this growth, the token's price saw a 15% decline intraday.
However, the weekly performance reveals a more positive outlook with a 16% increase in SHIB's value. Large holder concentration remains significant at 73%, suggesting potential for future price increases as influential stakeholders maintain their investments.
