SHIB Burns Collapse by 100% to Lowest Values This Month

A recent update shared by the Shiba Inu burn tracker portal has revealed that the daily SHIB burn rate has collapsed by roughly 100% from this month’s peaks and reached one of the lowest levels in March on its last day.

Still, by now, half of the circulating SHIB supply has been moved out of circulation.

SHIB burns collapse 100%

Data from the aforementioned source shows that today, March 31, a bottom has been hit, with one of the lowest levels reached. The monthly March chart shows just two peaks this month, which took place on Feb. 28 and March 15, with 84,094,174 SHIB and 54,693,900 SHIB burned on those days.

On March 25, the community disposed of 15,911,451 SHIB in total. Today, the number of burned meme coins has constituted 906.4 SHIB. The web portal has a renewed design; however, it does not display the percentage rise or decrease in daily SHIB burns.

Shibarium enters “clean stabilization phase”

X account @Shibizens, linked to the team behind Shibarium, has published a recent upgrade and shared it with the SHIB community. The post claims that Shibarium is entering “a clean stabilization phase” after the team had implemented an important infrastructure upgrade and full backend reindexing.

According to the report, over the past 48 hours, Shibarium mainnet activity has shown 1,230 transactions per day. This is a decline after a recent peak of 10,940 on March 26. The explorer synchronization shows 84%, and it is progressing steadily, the report states.

The post added that the network is fully operational, though the system is still recovering after the upgrade. The testnet (Puppynet) is also running smoothly and steadily.