The live Shiba Inu price today is $0.000013 USD with a 24-hour trading volume of $290,906,024 USD.Get detailed Shiba Inu cryptocurrency price news, analysis and more on Memecoin Exchange.
SHIB is the main token of Shiba Ecosystem, bringing the power of a decentralized, community-led currency to millions across the globe.
Shib Burn Rate Soared By Over 708% In The Past 24 Hours
According to a recent update from the burn tracker Shibburn, the pace at which SHIB tokens have been burnt has soared by over 708% in the past 24 hours.During a Twitter debate on Sunday, lead Shibarium developer Shytoshi Kusama, confirmed that the Layer-2 protocol for the SHIB network is likely to be released this week – its beta version.
The launch had been delayed until now since the top developer under Shytoshi, had been taking time to settle his personal family matters. Now that he is back, Shibarium is going to be rolled out, Kusama confirmed.The SHIB army expects the release of Shibarium to push the price of SHIB up as tons of Shiba Inu tokens will be burned for every transaction.
The upcoming launch of Shibarium is raising high hopes in the Shiba Inu community that the SHIB price will rise due to an expanded use case beyond a meme coin. Shibarium is set to go live any day now.The Shibarium project will help Shiba Inu evolve into more than a memecoin.Users can access Shibarium’s test tokens through private test network portals although it has yet to be officially deployed.
Related Reading : Shiba Inu | Shibarium Launch Expected This Week
The total supply of the Shiba Inu will shrink significantly following the introduction of Shibarium.One of the goals of the hotly anticipated Shibarium Layer 2 solution is to burn trillions of tokens.As more users transfer, pay or utilize Shiba Inu in any way, more tokens are sent to the burn address.
The Shibarium potential is enormous as it is expected to revolutionize the Shiba Inu ecosystem and the crypto space.Shytoshi Kusama repeatedly stated that the launch of Shibarium would take place in the near future.Shiba Eternity has also received another update.
What is Shiba Inu?
Shiba Inu is a cryptocurrency that was created in 2020 by a mysterious person who calls themselves Ryoshi. The name ‘Shiba Inu’ was stolen from the fluffy dog that was the subject of many memes at the time.The coin started as a joke it was meant as a kind of parody of Dogecoin, which was rising fast in both price and popularity despite having little use in the real world. In fact, Shiba Inu called itself a “Dogecoin killer.”
Shiba Inu runs on the Ethereum blockchain, and while each token or coin is worth just a fraction of a cent, the price went wild in 2021 turning a few early investors into millionaires.While prices have gone back down from whence they came, it still remains one of the most popular cryptos.The Shiba Inu development team is currently busy working on two major projects: SHIB Metaverse and the much-awaited Layer 2 protocol, Shibarium.