Shiba Inu (SHIB) Reaches New Major Milestone: Details
TL;DR
- shiba inu‘s layer-2 scaling solution, Shibarium, continues to progress with the total number of transactions approaching 420 million and wallet addresses exceeding 1.8 million, while the number of daily transactions has increased to over 14,000.
- The SHIB burn rate has increased by more than 4,000% in the past 24 hours, with approximately 300 million tokens removed from circulation.
Second largest breast money conditions total market cap – Shiba Inu (SHIB) – made a splash today (July 1) thanks to the further development of layer-2 scaling solution Shibarium.
The data shows the total number of blocks processed on the network exceeded 5.5 million milestone. Additionally, while total transactions approached 420 million, wallet addresses exceeded 1.8 million.
Daily transactions in the protocol are also on the riseit currently stands at over 14,000. This representing a 100% increase over the figure observed the previous day.
Shibarium is an L2 blockchain solution developed by the Shiba Inu team and aims to promote the development of the meme coin project. It was officially launched in August last year and Mother The goals include reducing transaction costs, increasing speed, and improving scalability. Those who want to learn more about the protocol can do so by watching our dedicated video below:
Burn Rate Increases
Another important development regarding Shiba Inu late hours It is the revival of the combustion mechanism. It has exploded by more than 4,000% in the last 24 hours, generating over 300 million tokens being removed from circulation.
The ultimate goal of the program is the enormous circulating supply of the coinmaking it scarcer and potentially more valuable inside time.
Like CryptoPotato reported Earlier today, SHIB was among a number of meme coins that were in the green on a daily scaleIt is currently the 14th largest cryptocurrency by market cap, exceeding $10 billion.
Some indicators of SHIB be the head for more rise in the near future. Crypto market intelligence platform – Centimeter – I recently stated that meme coins One of the least purchased digital assets.
This could be interpreted by traders and investors as a potential buying opportunity, which would then lead to an increase in prices.
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