Shibarium Scores Mind-Blowing Record, SHIB Army Ecstatic

According to data shared by Shibariumscan, the layer-2 solution for Shiba Inu that was launched in August has surpassed a massive transaction level, topping 200 million today.

Shibarium has added nine million transfers within a single day as more and more developers and platforms are joining Shibarium. The community went abuzz in the comment thread.

200 million threshold taken by Shibarium

Shibarium blockchain has demonstrated a massive rise in total transaction count within merely 24 hours as it added a massive nine million transfers. At the time of this writing, the overall number of transactions stands at 200,936,256. The number of transactions performed daily holds at a level close to eight million – it has been there since the start of December.

In the meantime, the total number of blockchain wallets connected to Shibarium remains 1,319,552 after recent growth.

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131 million Shiba Inu removed from circulation

As reported earlier, over the last 24 hours, the Shiba Inu community transferred an astounding amount of SHIB to unspendable blockchain addresses to lock the meme coins there without a chance to remove them; 131,456,481 SHIB were moved out of circulation. This made the daily burn rate soar by 1.812.27% compared to yesterday.

Overall, this increase was achieved by the community through making six burn transactions, where the largest one carried 123,661,759 SHIB.

Over the past five weeks, the Shiba Inu team has taken a big part in conducting SHIB burns as they transferred roughly a total of 36 billion Shiba Inu to unspendable wallets. These SHIB were converted from BONE tokens paid as transaction fees on Shibarium by the SHIB community – developers, platforms and average users, as some of the gas fee is set aside for maintaining the blockchain and for future burns.

Overall, one million U.S. dollars worth of BONE have been collected by now, and less than $400,000 of it has been burned in four transfers of 8.5 billion SHIB each.

So far, the SHIB developer team is burning SHIB manually, and Shytoshi Kusama recently confirmed that billions of SHIB more are to be destroyed. Still, after the major update that is coming soon, SHIB burns will become automated, and the community hopes that a lot more SHIB will be burned than have been.