Shiba Inu's Layer 2 solution, Shibarium, has just smashed a major milestone by crossing over 1 billion total transactions since its August 2023 launch. This puts Shibarium on a lightning-fast trajectory compared to Bitcoin, which took 15 years to achieve the same feat.
According to Shibariumscan, the network now handles 4.05 transactions daily with over 194M wallet addresses and an average block time of just 5 seconds. It highlights this Layer 2 network's robust scalability and growing adoption.
SHIB Burn Rate skyrockets 10,400% recently, 115.89M SHIB tokens have been permanently burned, as reported by Shibburn. Key transactions include:
92.64M SHIB burned a few days back.
20.25M SHIB and 16.27M SHIB in the last two days.
This dramatic increase hints at intensified community participation and possibly coordinated burn campaigns. The total burned supply now stands at 410.7 trillion SHIB, leaving 589.2 trillion in total supply.
SHIB price is still struggling despite the bullish on-chain activity:
Shiba Inu (SHIB) currently trades at $00001227 at the time of writing.
SHIB is marking a 0.57% decrease from the previous close.
Lost 19.5% over the past week.
Down 52.8% year over year.
Analysts are eyeing $0.000015 as key resistance. If it breaks that, $0.00002 may be in reach.
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