Shibarium Shatters Records: New All-Time Highs and Surge in SHIB Burn Rate

Shibarium, the Layer-2 blockchain that took the crypto world by storm, is once again making headlines as it continues its meteoric rise. With less than a month since its relaunch, Shibarium is poised to break another major milestone as an increasing number of users flock to its network, driving transaction counts to new all-time highs.

Transaction Count Nears Two Million

The latest data from Shibariumscan explorer reveals a remarkable surge in transaction activity, with the total count inching closer to the two million mark. At present, it stands just shy of that threshold. Notably, despite this surge in transactions, the number of connected wallets remains relatively stable, currently standing at 1,125,603. This stability in wallet numbers is a testament to Shibarium’s ability to handle increased traffic without compromising decentralization.

Source: Shibariumscan.io

Additionally, the number of mined blocks on Shibarium has soared, surpassing 572,760. This comes after the network achieved a significant milestone by mining half a million blocks, highlighting the robustness of the Layer-2 solution.

Shibarium’s Remarkable Rebirth

The resurgence of Shibarium as a Layer-2 blockchain is a testament to its development team’s resilience and commitment. The journey began approximately three weeks ago when, during its initial launch on August 15th at the Blockchain Futurist Conference in Toronto, the network struggled to handle the overwhelming influx of traffic.

In response to this challenge, Shibarium developers, in collaboration with various teams including SHIB and the Unification Fund, decided to relaunch the network. Polygon, a well-known player in the crypto space, played a crucial role in helping kickstart Shibarium, ensuring its infrastructure could handle the demands of its growing user base.

Explosive Rise in SHIB Token Burns

While Shibarium continues to break records, the Shiba Inu community has been actively involved in increasing the burn rate of SHIB tokens. Over the past 24 hours, a staggering 145,593,923 SHIB meme coins were transferred to dead-end blockchain addresses, marking a jaw-dropping increase of more than 109.13% in the burn rate, as reported by the Shibburn explorer.

Source: Shibburn

Among these burned tokens, the two largest transactions included 68,999,999 SHIB and 41,082,889 SHIB, followed closely by 19,137,508 SHIB and 15,412,592 SHIB. This remarkable surge in SHIB burn activity showcases the commitment of the Shiba Inu community to reduce the token’s supply, which has been a driving force behind its price appreciation.

In conclusion, Shibarium’s remarkable resurgence as a Layer-2 blockchain and the explosive increase in SHIB token burns illustrate the incredible energy and enthusiasm surrounding the Shiba Inu ecosystem. As Shibarium continues to push boundaries and attract more users, the crypto world eagerly awaits its next milestone and the impact it will have on the broader blockchain landscape.

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