SHIBA INU $SHIB MAJOR MILESTONES....đ±đ±đ±
Shibarium and SHIBâs burning mechanism made the headlinesâŠ
As Reported by Cryptopotato, The second-largest meme coin in terms of total market cap â Shiba Inu SHIB â made waves thanks to the further development of its layer-2 scaling solution â Shibarium.
Data shows that the total number of blocks processed on the network surpassed the 5.5 million milestone. Additionally, total transactions neared the 420 million mark, while wallet addresses exceeded 1.8 millionâŠ
Daily transactions on the protocol are also on the rise, currently standing at over 14,000. This represents a 100% increase compared to the figure observed a few days ago..
Shibarium officially went live in August 2023, and its main purposes include lowering transaction costs, improving speed, and enhancing scalability.
Another important Shiba Inu-related development as of late is the resurgence of the burning mechanism. It exploded by over 4,000% in the past 24 hours, resulting in more than 300 million tokens being removed from circulationâŠ
The programâs ultimate goal is to reduce the tremendous circulating supply of the coin, making it scarcer and potentially more valuable in time.
SHIB is among the numerous meme coins situated well in the green on a daily scale. It is currently the 14th biggest cryptocurrency, with a market capitalization of over $10 billion.
Some Experts suggest that SHIB could be headed for a further uptrend in the near future. The crypto market intelligence platform â Santiment â recently stated that the meme coins is one of the most underbought digital assetsâŠ.
This condition might be interpreted by traders and investors as a buying opportunity and could be followed by a price uptick, potentially Dropping few Zeros in the futureâŠ
DYOR / NFA âŠ
