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Shiba Inu burn rate declines amidst Shibarium’s rapid growth

Press Releases Crypto News AMB-Crypto Shiba Inu burn rate declines amidst Shibarium’s rapid growth

Shiba Inu’s Shibarium testnet experienced remarkable growth with record transactions and wallet addresses.
SHIB indicated a bearish trend, but active addresses showed a slight upward momentum.

The Shiba Inu Shibarium testnet has been buzzing with activity lately. As of this writing, it had already processed an impressive 12.8 million transactions and was rapidly approaching the 13 million mark. Furthermore, the number of wallet addresses on the platform had surpassed 16 million, highlighting the remarkable growth of this Layer 2 (L2) solution, despite its initially rocky start.

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Additionally, recent reports indicated that the mainnet launch was underway, bringing along additional features. Although the exact date of the launch remained uncertain, signs pointed to it taking place sometime in this year’s third quarter. The anticipation for the mainnet release continues to build, promising further advancements for the Shibarium ecosystem.

Shiba Inu burn rate declines

Despite the significant increase in transactions and wallets on the Shibarium, the current burn rate of Shiba Inu did not mirror this growth. Recent data from Shibburn revealed a 22% decline in the burn rate within the past 24 hours. As of this writing, nearly 19 million SHIB tokens had been burned. Additionally, the total burn from the initial supply had surpassed 410 trillion SHIB tokens.

Furthermore, Shibburns’ data indicated that approximately 14 trillion SHIB tokens were currently staked out of the circulating supply of over 574 trillion.

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Author: Suzuki Shillsalot

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