- 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.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
