40% of the total SHIB supply has been burned till date

40% of the total SHIB supply has been burned till date

40% of the total SHIB supply has been burned to date, as per data from Shibburn.SHIB’s upwards price action is primarily a result of a spike in the token’s burn rate earlier this week, and expectations around the launch of Shibarium (a layer-2 blockchain to be launched by Shiba Inu).

SHIB, the 12th-largest cryptocurrency, has a market capitalization of $8.01 billion.Shibaswap, the popular DEX launched by the Shiba team, has also seen its user base grow.Trading volumes were also up 61% over the past 24 hours.