Shibarium Achieves 4 Million Transactions, SHIB Burn Rate Soars
Shibarium, the layer-2 solution for Shiba Inu, has recently reached a significant milestone by surpassing 4 million total transactions. This has had a positive impact on the meme coin’s growth. Additionally, the burn rate of SHIB tokens has skyrocketed in the last two days as investors aim to drive up its price.
Rapid Growth of Shibarium
In just a few months, over 4 million transactions have occurred on the Shibarium network. The total transaction count currently stands at 4.27 million, with the total block count approaching 2 million. Last weekend, daily transactions peaked at 43,690 on November 23.
Increased SHIB Burn Rate
The burn rate of SHIB tokens has seen a significant increase this week. Within the last 24 hours alone, 82,887,109 SHIB tokens were burned, marking a 913.89% increase compared to the previous day. Most of these burns originated from one address that incinerated 82.86 million SHIB tokens.
Future Outlook for Shiba Inu
Although SHIB burns and Shibarium’s milestone have not yet impacted the price of SHIB, there is optimism for future price growth. Currently trading at $0.000008221, SHIB has shown an upward trend from its October low of 0.000006. With increasing utility and partnerships in the SHIB ecosystem and growing mainstream interest, analysts predict that SHIB could reach and potentially exceed its former high of $0.000088.
Hot Take: Will Shiba Inu Surpass Its Previous High?
The recent achievements of Shibarium and the surge in SHIB burn rate have raised expectations for Shiba Inu’s price. Despite the lack of immediate impact on its value, there are indications that SHIB could experience significant growth in the coming months. If it manages to surpass its previous high of $0.000088, this would represent a 902% increase from its current price. With increasing utility and growing support, the future looks promising for Shiba Inu.
Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding.