Shiba Inu (SHIB), one of the most well-known meme coins, has witnessed an astronomical increase in its burn rate, surging by nearly 50,000% in just one day. Simultaneously, its derivatives trading volume has skyrocketed, raising speculation on whether SHIB can reclaim its all-time high of $0.00008845.
SHIB Burn Rate Explodes
The Shiba Inu burn rate surged by 49,552% in the past 24 hours, with 13,629,023 SHIB tokens permanently removed from circulation. Since its inception, a staggering 410.74 trillion SHIB tokens have been burned, according to data from Shibburn. While reducing supply through burning is often seen as a bullish sign, its impact on price hinges on whether demand rises accordingly.
Alongside the burn event, SHIB’s derivatives market activity has intensified. Open interest in SHIB increased by 2.85%, reaching $123.68 million. Meanwhile, derivatives trading volume spiked by a remarkable 290.84% to $167.40 million, per Coinglass data. This surge suggests traders are positioning themselves for a potential breakout.
Shibarium Approaches 10 Million Blocks
Adding to the momentum, Shiba Inu’s Layer-2 blockchain, Shibarium, is nearing a significant milestone. The network’s total block count currently stands at 9,977,961, placing it on the verge of surpassing the 10 million mark. The rapid growth reflects strong on-chain adoption and increasing transaction activity.
According to Shibariumscan, total transactions on the network have now hit 963.74 million, while the number of total addresses has grown to 171.43 million. Daily transactions have rebounded to 2 million after dipping to 1.46 million on March 13, though they remain below the February 15 peak of 4.64 million.
Shib OS: The Future of Decentralized Governance
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 13, 2025
Shib OS is a turnkey solution for governments and enterprises seeking to transition from outdated centralized models to transparent, efficient, and secure decentralized governance. Built on Shibarium, a scalable L2 blockchain, it… pic.twitter.com/T38vfPgBXA
Shib OS: A Game-Changer for Decentralization?
The Shiba Inu development team has also unveiled Shib OS, a decentralized operating system designed to enhance transparency and automation. Built on Shibarium, Shib OS aims to streamline governance processes for enterprises and institutions through decentralized identity, storage, and smart contract automation.
Also Read: Shiba Inu Burn Rate Surges 27,787% as SHIB Struggles to Overcome Bearish Pressure
As these developments unfold, SHIB’s market performance remains under close watch. With rising activity in both its tokenomics and ecosystem, investors are eager to see if this momentum can drive SHIB back toward its previous highs.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
