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600 Million Shiba Inu Burned as Shibarium Continues to Score Major New Goals

Tue, 07/11/2023 - 09:52
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Yuri Molchan
Nearly million SHIB meme coins have been 'cremated' over past 24 hours as price is striving to go deeper into green
600 Million Shiba Inu Burned as Shibarium Continues to Score Major New Goals
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As the new week kicked off, the amount of SHIB burned daily has been rising extensively as half a million plus of these meme coins have been sent to dead-end wallets.

In the meantime, the price of the second largest dog-themed cryptocurrency SHIB has gained a marginal 1% after a 4% decline since Sunday.

601 million SHIB sent to "inferno" wallets

According to data shared by the Shibburn wallet tracker, the past 24 hours were notable for the SHIB army as, during this period, the circulating supply of SHIB shrank by a total of 601,643,004 Shiba Inu.

The largest lumps sent to dead wallets carried roughly 20 million Shiba Inu each, Shibburn shared in the table of registered burn transactions.

The above-mentioned comprised SHIB lump exceeds the one burned on Monday by approximately one hundred million SHIB — 601 million versus 559 million meme coins.

Shibarium smashed new utility record

As reported by U.Today earlier, over the past few days, Shibarium testnet has hit a significant new utility milestone. Within the last week, the total transaction count has surged by roughly one and a half million, reaching a 28,645,428 all-time high.

The number of wallet addresses connected to the Puppynet test chain remains at 17,061,463.

The launch of the Shibarium mainnet is expected to occur after Aug. 16 — this is when the Eth Toronto conference in Canada ends. At the conference, Shytoshi Kusama will be a virtual speaker, all SHIB-branded projects will be publicized and detailed discussion of the Shibarium launch are likely to take place, according to a recent blog post published by Kusama on Medium.

Still, top SHIB team member Lucie posted yesterday a reminder to the SHIB army on Twitter, saying that there is no exact date for the Shibarium launch. However, she said that the developer team is close to the release of the Layer 2 protocol.

Shibarium Testnet Sets Major New Record in Last Five Days: Details

SHIB price action

After losing roughly 4% since Sunday, the Shiba Inu canine token has been making attempts to recover. On Monday, it gained back 2.27%, but then the price growth was erased. Earlier today, SHIB managed to rise by 1.52%, but since then it has gone down a little.

At the time of this writing, the meme coin is changing hands at $0.00000755 on the Binance exchange.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at