- Shibarium transactions reach 1,566,155 daily, a new high.
- Shiba Inu burn rate spikes by 224.31% in 24 hours.
- Expectations rise for a SHIB price surge due to increased activity.
Shibarium, the Ethereum-based Layer-2 blockchain, has witnessed an astonishing surge in daily transactions, reaching an all-time high of 1,566,155. Simultaneously, Shiba Inu’s SHIB coin experienced an unprecedented 224.31% increase in its burn rate within just 24 hours.
Shibarium has been abuzz with activity over the past few days as users flocked to take advantage of this burgeoning blockchain’s capabilities. With 539,663 blocks already mined, it is rapidly solidifying its position as a serious contender in the Layer-2 ecosystem. However, the growth of connected wallet addresses has been more measured, currently resting at 1,125,110.
What truly stole the spotlight, though, was the meteoric rise in SHIB coin burns. In a mere 24-hour window, 80 million SHIB tokens were sent up in flames, with some of the largest burn transactions torching substantial amounts, including 20,514,086 SHIB, 14,447,005 SHIB, and 10,487,173 SHIB. This burning spree starkly contrasts recent days when the Shiba Inu community struggled to keep the burn rate afloat, with percentages dipping as low as 65%.
The sudden surge in transactions and the significant reduction in the circulating supply of SHIB coins have ignited speculation among traders and enthusiasts alike. Many are now speculating that the scarcity of SHIB tokens, driven by these burn events, could exert upward pressure on the token’s price. As the crypto world closely monitors these developments, Shibarium continues its ascent, leaving the community eager to see what heights it may reach next.
