It appears that the recent news of lead developer SHIB confirming a Shibarium beta release “next week”, which likely means this week after Sunday’s announcement, has spurred the Shiba Inu’s burning rate up to the next level. high.
SHIB burn rate jumped by 708%
According to a recent update on the Shibburn tracker website, the transfer rate of SHIB meme tokens to stub wallets has increased by over 708% in the last 24 hours.
This time, the combined efforts of the SHIB army managed to burn a total of 7,244,258 Shiba Inu. This is the first time this week that the burn rate has increased significantly.
The price of the popular meme coin has not shown significant growth lately. Over the past week, since Thursday, February 16, the coin has lost almost 8%, falling from $0.00001368 to $0.00001260.
Over the past 24 hours, there has been a drop of more than 6%. Because the SHIB burn rate often correlates with price, it reflects the negative price action of SHIB lately.
Shibarium Beta Release Confirmed by Shytoshi
Entering the Twitter debate on Sunday, Shiba Inu and Shibarium’s lead developer – Shitoshi Kusama under a pseudonym – confirmed that the answer to the popular “wen shibarium” question is “next week.”
He then changed the biography section of his Twitter profile to include “fire emoji” and “scheduled”.
The Layer-2 Shibarium protocol will provide fast and low-cost transactions for SHIB users and developers. The latter will be able to create dApps and run smart contracts on it.
Kusama emphasized that a large number of SHIBs would be burned after Shibarium’s launch, and the community believes he was talking about trillions of Shiba Inu.
Credit : u.today
