Shiba Inu Burn Rate Increases by 49,552% Amid Shib OS Launch
Shiba Inu (SHIB) has experienced a surge in its burn rate, seeing a 49,552% increase and the removal of 13,629,023 SHIB tokens from circulation. The total burned since inception is 410.74 trillion SHIB. Derivatives trading volume also rose by 290.84%, reaching $167.40 million.
Key Developments
- SHIB's open interest increased by 2.85% to $123.68 million.
- Shibarium's block count is approaching 10 million, currently at 9,977,961.
- Total transactions on Shibarium reached 963.74 million with 171.43 million addresses.
- Daily transactions rebounded to 2 million, but are below February's peak of 4.64 million.
- Launch of Shib OS, a decentralized operating system for governance, featuring integrated DAO framework and enhanced security using Fully Homomorphic Encryption (FHE).
Price Analysis
SHIB is currently trading at $0.00001318, up nearly 2%. Trading volume has increased by 179.55%. The Relative Strength Index (RSI) is at 46.01, indicating neutral-to-bearish sentiment with signs of rising buying demand.
SHIB is trading near the middle Bollinger Band at $0.00001308. A breakout above $0.00001492 may indicate bullish momentum, while a rejection could lead to a retest at support around $0.00001125.