Shibarium Surpasses 1 Million Wallets as Millions of SHIB Go Up in Flames

As the Shibarium explorer has been relaunched after the recent technical failure, it started showing that over the past 24 hours, the amount of wallets on it has surpassed the level of 1 million as more and more users have been joining Shibarium.

In the meantime, the SHIB army continues to burn Shiba Inu tokens, now taking advantage of transactions on Shibarium for doing that.

Number of wallets on Shibarium hits new major high

The total count of wallets has surged to 1 million, adding roughly 300,000 just overnight, indicating great interest and hopes of the SHIB army laid on this Layer-2 solution that links Shiba Inu and the Ethereum chain.

The count of transactions surged to 773,429 after reaching the 700,000 threshold on Friday.

Apart from multiple opportunities for building on Shibarium, each transaction on it powers SHIB burns, helping to remove meme coins from the circulating supply, thanks to the team setting aside part of the gas fees to convert them into SHIB later on and then burn them.

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SHIB army burns millions of SHIB, burn rate goes green

According to Shibburn, within the last 24 hours, the Shiba Inu community has managed to remove 43,163,517 SHIB in total, pushing these millions out of circulation.

These burns have pushed the burn rate up more than 71%, according to a recent update on the Shibburn website.

As reported by U.Today earlier, in August, the SHIB army managed to set on fire almost 6 billion SHIB — a significant advance compared to July, when they burned about 2 billion SHIB when Shibarium was not running yet.