Last updated on May 18th, 2024 at 11:55 am
Shibarium – a Shiba Inu layer 2 blockchain solution, has achieved a new feat as the total transactions on the network crossed 2.7 million. Meanwhile, the Shiba Inu community continues its effort to reduce the total amount of SHIB tokens in circulation.
A new report from Shibburn – a dedicated burn tracker, shows that within the last 24 hours, the SHIB army has sent over 44 million Shiba Inu tokens to burn wallets. In total, the dedicated community has succeeded in removing over 400 trillion SHIB tokens from circulation.
The new milestone reached by Shibarium may also have contributed to the recent burns.
Almost 50 million SHIB tokens burned in the last day
The aforementioned burn tracker revealed on X (formerly Twitter) that exactly 44,049,556 SHIB tokens have been burned within the last 24 hours. In addition, these burns were carried out across 8 different transactions.
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In the past 24 hours, there have been a total of 44,049,556 $SHIB tokens burned and 8 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. pic.twitter.com/7ZppmmknzM
— Shibburn (@shibburn) September 15, 2023
Consequently, the burn rate also increased by 11.73%. However, compared to the burn rate of the previous day which recorded about 62.66%, this is almost six times lower. Noticeably, two wallets burning over 9 million SHIB tokens were recorded about 4 and 13 hours ago respectively.
Related Reading: Possible Reasons Why Major Shiba Inu Burns Fails to Make SHIB Price Surge
Shibarium Transaction Exceeds 2.7 Million
In the meantime, Shibarium has continued to achieve impressive milestones since its relaunch in August. The total transaction on the exciting project now stands at 2,701,208 according to recent data from Shibariumscan.
Also, the total number of wallet addresses on the network continues to increase daily. Per the data, the total number of wallets on Shibarium is 1,246,111 with an average block time of 5.0 seconds.
Source: Shibariumscan
Even though the daily transactions on the network today are 183,840 (183 thousand), it is slightly lower than the daily transactions recorded earlier this week when it reached 200,000 on September 13.
It is expected that Shibarium will continue to grow in the coming months. The more projects that adopt Shibarium, the better for SHIB burns, as more projects on this blockchain mean more transactions will be done, which would also mean more fees and, thus, more SHIB tokens to finally be transferred to burn wallets.
Shiba Inu (SHIB) price today
According to live data from Coinstats, SHIB is currently trading at $0.0000074. This represents a 1.93% increase in the last 24 hours. What’s more, Shiba Inu has a 24-hour trading volume of $80,106,194 ($80 million). SHIB is ranked #16 on the global crypto market chart with a live market cap of $4,357,163,905 ($4 billion).
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.