#SHIB Burns Soar Almost 1,400% As Shibarium Hits New Utility Milestone 115 million SHIB removed from circulation
Shiba Inu burn rate increases massively as whopping 100 million SHIB gets removed in a single transfer
Shibburn platform, which shared details of SHIB burn transactions with the crypto community, spread the word about an astounding rise of the SHIB burn rate within the span of the last 24 hours with a huge chunk of SHIB moved to dead- end wallets.
In the meantime, Shibarium Layer-2 solution has reached a new milestone, showing that its utility keeps growing.
Per data shared by the above-mentioned source, this time since Thursday morning the SHIB community has pushed the burn rate up by 1359.82% as it disposed of a remarkable 115,759,009 SHIB. Notably, a staggering 100,000,000 Shiba Inu meme coins - nearly al. SHIB removed this time - were burned in a single transfer.
This is the second biggest burn rate jump this week. On Monday, this metric demonstrated a rise of 7,700% with a whopping 544,958,383 SHIB coins transferred to dead blockchain addresses.
The goal of these constant and regular SHIB burns is to move as many meme coins to dead addresses, from where they will not be withdrawn or spent. Their permanent stay in these unspendable wallets will make the coin more scarce. Providing the demand for SHIB also soars, the second largest meme coin has a potential to show a significant price increase in the future.
Shibarium hits new milestone
In the meantime, Shibarium chain continues to see its key metrics increase. After reached a 3,500,000 transactions milestone recently, Shibarium has now reached a 3,780,336 transaction milestone, according to the Shibariumscan explorer.
The number of daily transactions remains stably slightly over 13,000 after major surges in September and October.
The total number of connected wallet address has grown to the 1,259,795 level, while the number of mined blocks stands at 1,472,727.
