Shiba Inu Hits Another Huge Milestone, What Will the Price of SHIB Be? (detail)
TL;DR
- shiba inu‘s Shibarium has reached a new milestone in terms of total blocks processed on the network.
- Additionally, SHIB’s burn rate increased by 350%, aiming to reduce supply and potentially increase value.
Shiba Inu’s layer-2 scaling solution – shibarium – He hit the headlines again after achieving great success. latest data demonstrations The total blocks processed on the network have surpassed the five million milestone. Considering this, this is a significant achievement. real Shibarium officially I saw the light of day in August last year.
While the total number of transactions on the L2 blockchain solution currently stands at over 417 million, the number of wallet addresses recently surpassed this figure 1.8 million mark.
Shibarium’s primary goal is to foster the development of the Shiba Inu ecosystem by reducing transaction fees, increasing speed, and increasing scalability.
Last month the team behind the network started A new user interface (UI) upgrade described as “faster, smoother and more accessible than ever before.” The update aims to enable compatibility with popular self-storage wallets such as MetaMask, Coinbase Wallet, and Trust Wallet.
Shortly after, the team introduced Another development via hard fork. Its goal is to strengthen the community of developers and innovators, improve user experience, and implement faster block processing times.
For those who want to learn more about Shibarium, feel free to check out our exclusive video below:
Passing through the burning roof
Shibarium’s advancement is considered a contributing factor to the potential rise in SHIB prices, but it is not the only factor. The Shiba Inu’s combustion mechanism is another element worth observing.
Burning rate Exploded increased by 350% in the last 24 hours, resulting in almost 10 million coins To be destroyed. The ultimate goal of the program is to reduce the significant circulating supply of the asset, making it more scarce and potentially more valuable over time (assuming demand increases or maintains levels).
The Shiba Inu team has already burned approximately 41% of the maximum total supply of 999,982,356,918,347 coins.
SHIB has some value inside Green today (May 31) following the revival of the meme money industry. Other such assets that have witnessed price increases in the last 24 hours include dogecoin (DOGE), pepe. (PEPE), Floki Inu (FLOKI), bonk Inu (BONK) and more.
SHIB Price, Source: CoinGecko
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