What is the SHIB Price?

[BitTorrent]

What is the SHIB Price?


TL;DR

• Shiba Inu burn rate is increasing rapidly, and millions of tokens are being removed on a daily scale; this is part of a larger effort to reduce supply and increase value.
• Development of Shibarium is progressing with upgrades aimed at improving speed, scalability and transaction fees, potentially contributing to SHIB’s recent price increase.

SHIB Burn Rate Increases


The popular meme coin, shiba inu, has witnessed another significant increase in burn rate. Data shows that rose rapidly There has been an increase of over 4,000% in the last 24 hours, resulting in more than 81 million tokens being removed from circulation.

The program was very successful It has been successful recently, with almost 1.7 billion SHIB assets destroyed during April. His ultimate goal is to reduce the enormous supply of meme money, making it scarcer and possibly more valuable in the future.

SHIB’s price is up 6% weekly and is up over 150% since May last year. The asset remains the second largest in the meme coin cohort, with a market capitalization approaching $15 billion.

SHIB Price, Source: CoinGecko
Potential Role of Shibarium


Another factor that may contribute positively to the recent revival in the price of the Shiba Inu is: development layer-2 scaling solution – Shibarium. The network aims to elevate the token above its competitors in the meme coin space by increasing speed, increasing scalability, and lowering transaction fees.has recently undergone two major upgrades.

First dead In mid-April, the team launched a new user interface (UI) update, describing it as “faster, smoother, and more accessible than ever before.” The goal was to improve compatibility with popular self-storage wallets such as MetaMask, Coinbase Wallet, and Trust Wallet.

Shortly after, developers introduced Another advancement via “hard fork”. It aims to improve user experience, strengthen the community of developers and innovators, and implement faster block processing times.

“We also soften outside Transaction fee changes during times of heavy traffic make costs more predictable and fair for everyone. This It ensures that our platform remains affordable and accessible,” the team added.

For those who want to learn more about Shibarium, please check out our exclusive video below:






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