Popular meme-based cryptocurrency $SHIB’s token burn rate has reportedly surged in the past 24-hour period as the Shiba Inu community impatiently awaits the upcoming launch of the beta version of Shiba’s Layer 2 (L2) scaling solution Shibarium.

Here is what Binance Academy says about Shiba Inu ($SHIB):

“Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed. It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain.

“SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap. The SHIB roadmap and ecosystem also features an NFT art incubator called Shiba Artist Incubator, 10,000 ‘Shiboshi’ NFTs, and an NFT game Shiboshi Game.

“Shiba Inu had an initial circulating supply of 1 quadrillion tokens. Ryoshi locked 50% of the token in Uniswap to create liquidity and sent the other 50% to Ethereum co-founder Vitalik Buterin’s wallet. However, Vitalik decided to burn 90% of the coins and donate the remaining 10% to charity.“

As of 11:35 a.m. UTC on March 9, $SHIB burn tracker Shibburn is reporting that in the past 24-hour period, the $SHIB burn rate was up an insane 27,954%, with over 410 trillion SHIB tokens burned so far, i.e. permanently removed from the supply or sent to an inaccessible Ethereum address.

The burn rate mechanism was introduced in 2021 after Ethereum creator Vitalik Buterin burned 90% of his $SHIB holdings and donated the rest to charity. The Shiba Inu community has since continued the practice, gradually taking $SHIB out of circulation.

In the past few weeks, there have been several major listings for $SHIB — and other tokens in the Shiba Inu ecosystem — as the community impatiently awaits the launch of Shibarium, a Layer 2 blockchain designed to address the shortcomings of the $SHIB token’s host chain Ethereum, namely low speed and high transaction cost.

#SHIB #shibainu #shibarium #buildtogether #koinmilyoner

Shibarium, the Layer-2 blockchain of Shiba Inu, has experienced a remarkable 254% increase in new accounts activity, drawing attention to BONE.

Cryptos Headlines Platform Has Launched Its Native Token, Early Public Sale Is Live On CryptosHeadlinesToken.com
In a surprising development, Shiba Inu’s Layer-2 blockchain system, Shibarium, has seen an incredible spike, with new accounts activity skyrocketing by a staggering 254% in just three days.

Shibarium’s New Accounts Surge
Shibariumscan data highlights a significant increase in daily new accounts, leaping from 24 on February 1 to a remarkable 61 on February 3. This surge has propelled Shiba Inu’s Layer-2 network’s total account count to an impressive 63,162.

Source: Shibariumscan
Such spikes in network activity often herald notable price movements in associated cryptocurrencies, indicating potential shifts in market sentiment and investor activity.
The Shiba Inu ecosystem presents an intriguing deviation from the norm. Unlike many blockchain networks where the native token takes precedence, Shibarium’s primary cryptocurrency is not SHIB but BONE.
BONE’s Potential Amid Shibarium Surge
Amidst Shibarium’s notable surge in new accounts, BONE, functioning as the token for gas tolls and validator stakes within the ecosystem, stands to benefit. This surge may not ensure Shiba Inu’s overall success, but it could generate positive momentum for BONE’s market performance.

BONE to USD by CoinMarketCap
Investors and enthusiasts are advised to closely monitor BONE’s performance in the coming days, as heightened interest in Shibarium could represent a significant moment for the lesser-known cryptocurrency.
As the Shiba Inu ecosystem evolves, attention is shifting, with BONE emerging as a token of interest amid Shibarium’s recent surge in activity.
#shibainu #Shibarium #SHIB #Bitcoin #Altcoin

The Shiba Inu burn rate has witnessed a remarkable increase of 400%, injecting optimism into the community and coinciding with a positive trend in its market price.Shiba Inu stands out as a prominent meme coin in the crypto world, with the development team’s unwavering commitment to its progress, notably evident in their active involvement in the Shiba Inu Burn Rate program.
Shiba Inu: Navigating Through Market Fluctuations
In the dynamic world of cryptocurrency, Shiba Inu, a prominent meme coin and second largest of its kind, has been making waves and capturing the market’s attention. The dedication of the development team is palpable, as they have been immersed in initiatives aimed at propelling the coin’s progress, one of which is the Shiba Inu Burn Rate program.
While the burn rate of Shiba Inu has experienced its share of ups and downs, with some days outperforming others, there has been a notable trend of stability in recent times. This stability is characterized by the consistent burning of millions of SHIB on a daily basis.
A Sudden Surge: Analyzing the Shiba Inu Burn Rate
The latest data from Shibburn paints a picture of a thriving burn rate, showcasing a staggering increase of 407%. This surge comes amid favorable market conditions, offering a glimmer of optimism to the SHIB community, especially considering the previous slumps in the burn rate.
Over the span of the last 24 hours, a total of 142.8 million SHIB has been transferred to dead wallets, made possible through a series of both small and large transactions. This collective effort has played a pivotal role in catapulting the burn rate to new heights.
This upswing in the burn rate arrives at a crucial time when Shiba Inu is showing signs of strength and resilience in the market. According to data from CoinMarketCap, SHIB is currently trading at $0.000007583, marking a 4.3% increase in value over the last 24 hours.
As the market watches closely, the surge in Shiba Inu’s burn rate stands as a testament to the community’s commitment and the potential positive trajectory of this meme coin in the cryptocurrency landscape.
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#shibainu #SHIB $SHIB