How Many Shiba Inu (SHIB) Tokens Were Burned Last Month?

[BitTorrent]

How Many Shiba Inu (SHIB) Tokens Were Burned Last Month?


TL;DR

• shiba inu‘s burning efforts in May were down 78% compared to April.
• Layer 2 blockchain solution Shibarium has surpassed 5 million blocks and 400 million transactions, fueling the growth of the ecosystem.

Burning in May


Popular meme coin project Shiba Inu continues to see a significant amount of tokens being removed from its circulating supply. Data shows that approximately 370 million assets were burned in 328 transactions throughout May. This figure represents a decrease of 78.23% compared to the figure observed in the whole of April.

????????369,173,694 $SHIB Tokens were burned in 328 transactions in May. #SHIB

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Do you know? Three years ago today (June 1, 2021), Shibburn was launched as the first project to build around. $SHIB and the first private incineration project in the world… pic.twitter.com/9xjBysR0L3

— Shibburn (@shibburn) June 1, 2024

The combustion mechanism is an important part of the Shiba Inu ecosystemwho’s? the goal is to reduce the massive supply of tokens, making them scarcer and potentially more valuable inside time. Over the past few years, the Shiba Inu team has shipped more than 410 trillion assets, or 41% of the circulating supply, to zero addresses.

Meanwhile, SHIB’s price is slightly green on a monthly scaleIt is currently trading at around $0.00002504. Memecoin also experienced a massive 190% increase last year, emerging as one of the best performers in the crypto market for that time frame.

Shibarium’s Progress


Another factor that may positively affect the price of the Shiba Inu is the further development of the layer-2 scaling solution Shibarium. Officially I saw the light of day in August of last year and has passed numerous milestones since then.

Total number of blocks processed on the network recently exceeded 5 million marks. Before The total number of transactions exceeded 400 million and wallet addresses exceeded 1.8 million.

shibarium designed Supporting the advancement of the Shiba Inu ecosystem by reducing transaction fees, increasing speed, encouraging community participation, and increasing scalability.

Last month the network performed twice key.key updates. First activated Compatibility with popular personal storage wallets such as MetaMask, Trust Wallet, Coinbase Walletand others. The latter aims to strengthen the community of developers and innovators, implement faster block processing times and improve the overall user experience.

For those who want to learn more about the L2 blockchain solution, feel free to check out our exclusive video below:


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