Data from the popular SHIB tracker Shibburn revealed a staggering 95.55% drop in Shiba Inu’s daily burn rate over the last 24 hours. Despite this collapse, the SHIB community remains undeterred. They still burned a substantial amount of tokens, proving their continued commitment to reducing the circulating supply.
Although the burn rate plummeted, SHIB holders transferred over 46.4 million SHIB tokens to dead wallets within the last week. These wallets are unspendable, permanently removing the tokens from circulation. This move highlights the community’s unwavering support for SHIB’s deflationary model, even during periods of decreased burn activity.
Daily Burn Rate Also Declines Sharply
Today alone, only 180,292 SHIB tokens were sent to dead wallets. This figure reflects an 87.60% decrease in the daily burn rate. However, this hasn’t dampened enthusiasm across the SHIB ecosystem, especially as new developments continue to roll out.
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Meanwhile, SHIB-related account @Shibizens announced a major upgrade tied to the ongoing development of Shiba Inu’s Layer 3 blockchain infrastructure. According to the post, the team launched a testnet version of the Shib Alpha Layer block explorer.
This custom-built tool provides real-time access to block and transaction data specific to Shiba Inu’s modular rollups. Unlike general-purpose explorers, it instantly indexes data, removing delays and improving tracking efficiency.
New Tool Aligns With Shibarium’s Vision
The new explorer also offers key functionalities like live block tracking, network health stats, and external contract verification. Additionally, it simplifies contract monitoring and aligns with Shibarium’s open-access philosophy. The team has invited the public to test the tool and provide feedback.
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The SHIB development team hinted that a mainnet release is imminent. With advanced features and seamless performance, the Shib Alpha Layer block explorer could become a vital part of SHIB’s growing ecosystem. In spite of the steep drop in burn rates, SHIB continues to push forward with significant technical progress fueling long-term bullish sentiment.
