A recent report from Shibburn has revealed a substantial drop in the Shiba Inu (SHIB) burn rate, with a 74.61% decrease in the number of coins transferred to unspendable blockchain wallets. This decline is notable, given the community-driven effort to voluntarily lock in SHIB coins. Despite the decrease, the SHIB community remains committed to burning coins, with a total of 410,727,769,591,999 SHIB destroyed to date.

The SHIB burn rate can fluctuate significantly, with daily burns sometimes reaching tens of millions of coins. Recently, only two transactions have been made, moving 944,911 and 200,000 SHIB to dead-end addresses. The majority of SHIB coins were burned in a single transfer by Ethereum co-founder Vitalik Buterin in 2021. Buterin received half of the one-quadrillion SHIB supply but chose to burn the coins, citing a lack of belief in SHIB's potential and a desire not to impact its price.

Despite the decline in the burn rate, the SHIB community remains active and committed to the cryptocurrency. The recent price increase of 5.42% is a testament to the community's enthusiasm, with SHIB rising from $0.00001596 to $0.00001682 over the past 24 hours. This surge comes after an 8% decline on Thursday and is influenced by Bitcoin's 5.26% rise.

The SHIB community received positive news on Thursday with the announcement of a major Web3 upgrade for the Shiba Eternity game. The upgrade will allow players to participate in tournaments, generating excitement among SHIB supporters. This development highlights the community's commitment to innovation and growth.

In conclusion, while the Shiba Inu burn rate has seen a significant decline, the community remains committed to the cryptocurrency. The recent price increase and upcoming Web3 upgrade for the Shiba Eternity game demonstrate the community's enthusiasm and dedication to SHIB's growth and development.