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Shibarium, the Layer-2 scaling solution, has set a new record by processing an impressive 7.4 million transactions in a single day. This achievement marks a significant comeback for the network, which was previously considered dormant. Despite this, the value of Shiba Inu’s native token, SHIB, has not seen a substantial increase.
The Shiba Inu ecosystem has seen a drastic rise in its weekly burn rate, reaching an unprecedented 961.53%. This equates to over half a billion SHIB tokens being burned in just one week, distributed across 44 separate transactions, amounting to $4430.88. This significant token burn indicates a strong commitment from the Shiba Inu community.
Shibarium Achieves Record-Breaking Transaction Volume Amidst SHIB Price Stability
Shibarium’s record-breaking transaction volume marks a pivotal moment for the Shiba Inu cryptocurrency. Achieving 7.4 million transactions in a day, the platform has demonstrated a significant resurgence in activity, surprising many in the crypto world.
This remarkable activity on Shibarium represents a dramatic turnaround from its previous state of inactivity. In recent days, the platform has witnessed a surge in transactions, with numbers reaching the highest since October 25. This resurgence signals a potential revival for the layer-2 network, which had previously seen days with fewer than 10,000 transactions.
Despite Shibarium’s impressive performance, the SHIB token’s value has not seen a significant rise. This lack of substantial price movement has puzzled investors and crypto enthusiasts, as Shibarium’s achievements were expected to positively impact SHIB’s market cap and investor interest.
Shiba Inu’s Weekly Burn Rate Soars, Reflecting Community Commitment
The Shiba Inu community has demonstrated its dedication through an unprecedented increase in its weekly burn rate. Over 527 million SHIB tokens have been burned in the past week, marking a significant commitment from its supporters.
Shibarium’s ability to process a large number of transactions efficiently showcases its potential in facilitating faster, cost-effective transactions for SHIB holders. While the SHIB token’s price remains stable, Shibarium’s advancements indicate a growing interest in the Shiba Inu ecosystem.
As the crypto market continues to evolve, the Shiba Inu community remains vigilant, especially in the face of potential scams. Users are advised to be cautious and conduct thorough checks before engaging with any links or servers. The community’s dedication, coupled with Shibarium’s recent achievements, points to an exciting future for Shiba Inu and its supporters.
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