Shibarium Achieves Outstanding Milestone in Just 24 Hours

Shibariumscan explorer shows that the layer-2 blockchain Shibarium’s metric readings keep increasing rapidly, indicating major growth in Shibarium’s utility and adoption.

Meanwhile, the Shiba Inu price is showing a slight rise, striving to recover from the 5.57% decline that took place over the last 24 hours.

New jaw-dropping milestone for Shibarium

The aforementioned source shows that, since yesterday, Shibarium has added more than six million transactions, with the total count now standing at 216,030,830. The number of daily transfers remains high, going at 7.84 million; this metric has been this high value since Dec. 2.

The number of blockchain wallets connected to Shibarium has also grown by approximately a hundred units, reaching the 1,320,888 level.

Shibarium was a much-awaited development by the Shiba Inu community, with nearly two years of waiting for the launch. It was finally released this August during the annual ETHToronto conference in Canada. Later it was relaunched as, first, it failed to digest the massive inflow of traffic it faced.

Over the past few weeks, the number of transactions has been showing a rapid increase, with roughly five to six million transfers added every day. The Shiba Inu community is actively using Shibarium; even before the launch took place, several thousands of projects signed up to build on Shibarium or to integrate it into their platforms. Among them were multiple cryptocurrency exchanges.

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SHIB burn rate goes up

The Shiba Inu burn rate has demonstrated a slight increase over the past few hours as an unidentified wallet transferred a 13,140,241 SHIB chunk to a dead-end blockchain address. This increased the overall daily burn rate by a marginal 22% so far.

Over the past month, the Shiba Inu army has destroyed more than 24 billion Shiba Inu meme coins, mostly thanks to the SHIB development team. They have burned three astounding SHIB chunks of approximately 8.5 billion meme coins each, burning the SHIB they had converted from Shibarium transaction fees, which were originally paid in BONE tokens and later on get converted into Shiba Inu.

According to a blog post published in early December by the SHIB team, in January, an important new update will be rolled out that will make SHIB burns by the team automated, switching them from current manual burns.