Shibarium Registers New Inflow of Users, Hits Biggest Milestone Since Launch

Recent data shared by Puppyscan shows that, over the last 24 hours, Shibarium beta known as Puppynet has demonstrated a significant rise in the number of connected wallets.

Shibarium wallet number grows

The wallet count has surpassed 14 million, now standing at 14,061,562. This time, the growth has been far smaller than earlier this week. Since Thursday, Puppynet has added around 100,000 wallets, whereas previous surges brought it up to a triple inflow of new addresses.

However, recently, one Twitter user, supposedly a member of the Shiba Inu team, admitted that he had created around nine million wallets for Shibarium in order to stress test the beta of the Layer 2 network. A week ago, Puppynet only had 5,833,845 wallets connected to it.

The overall transaction count now constitutes 4,472,462. On April 11, exactly one month since the Shibarium beta launch, the number of transactions per day soared to a peak of 891,165.

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The community expects 500 billion SHIB burned per year

Major SHIB-focused Twitter account @ShibBPP recently tweeted that they would be impressed if Shibarium were able to burn at least 500 billion Shiba Inu tokens in one year. Previously, according to multiple tweets, expectations stood higher – at trillions of Shiba Inu per week or month.

A portion of the transaction fees paid in BONE governance token now get converted into Shiba Inu and sent to dead wallets, i.e., burned for good, thus getting extracted from the circulating supply.

As reported by U.Today earlier, over the past 24 hours, the combined efforts of the SHIB army helped to remove 27,575,359 Shiba Inu. Half of that sum was moved to a dead wallet in a single transaction.

Whale grabbing hundreds of billions of SHIB

While some are making efforts to reduce the circulating supply of these meme coins, whales continue to buy more. Earlier today, prominent wallet tracker WhaleStats reported that investor "BlueWhale0073," known for their frequent purchases of SHIB, grabbed more than 311 billion Shiba Inu in two transactions – 194,114,774,578 SHIB and 117,883,960,216 SHIB evaluated at $2,069,263 and $1,256,643, respectively.

This whale is ranked 254th among the top 500 whales on the Ethereum chain. Currently, this wallet contains zero Shiba Inu as it, as usual, sold these meme coins almost immediately after buying them.

As of this writing, Shiba Inu is changing hands at $0.00001063, showing a price drop of nearly 2.5% over the past 24 hours, according to data shared by CoinMarketCap analytics service.