Shiba Inu Continues To Destroy Millions Of Shib Tokens

The live Shiba Inu price today is $0.000014 USD with a 24-hour trading volume of $506,032,279 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.

Shiba Inu Continues To Destroy Millions Of Shib Tokens

The Shibburn tracker of burn transaction tweeted that 98,282,540 SHIB in total was transacted to unspendable wallets during the period of the last seven days.This stash of Shiba Inu was removed from the circulating supply in 36 transactions.

In the last 7 days, there have been a total of 98,282,540 $SHIB tokens burned and 36 transactions. #shibarmy

Originally tweeted by Shibburn (@shibburn) on February 19, 2023.

Moreover Shytoshi Kusama on social media platforms, has hinted that the release of the much-anticipated Layer-2 solution Shibarium may happen this year before May.Kusama stated that “things are coming well before May,” giving the community hope that the launch of Shibarium may indeed happen pretty soon.

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.

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.

Related Reading : Shiba Inu | SHIB Ranks Among The Most Purchased Tokens By Biggest ETH Whales

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.

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