TL;DR
- Shiba Inu’s layer-2 blockchain solution, Shibarium, achieves a significant milestone in terms of transaction volume.
- Despite this significant achievement, SHIB’s price has remained stable without major changes in the last 24 hours.
- SHIB has the potential to surge in the near future considering the execution of its burning program and other developments.
Shibarium’s Latest Achievement
The popular memecoin – Shiba Inu (SHIB) – keeps dragging attention toward itself. The most recent development surrounding the self-proclaimed Dogecoin-killer is focused on its layer-2 blockchain solution – Shibarium.
According to Shibariumscan, total transactions on the network have exceeded the astonishing level of 200 million. This comes after a highly successful months (so far), where daily transactions hovered between 5 million and almost 8 million.
Shibarium officially went live in August this year. It aims to elevate Shiba Inu above its rivals in the memecoin realm by improving speed and lowering transaction fees. Those willing to learn more about the feature could take a look at our dedicated video below:
SHIB Price Remains Flat
Despite the impressive achievement, Shiba Inu’s price has failed to chart any substantial gains in the past 24 hours, currently trading at the same level from yesterday (December 26). Still, it has performed quite well as of late, being up 13% in a week and 25% on a monthly basis.
Its uptrend could be attributed to the overall frenzy surrounding the memecoin niche and the successful execution of Shiba Inu’s burning program. The project witnessed over 17 billion tokens sent to an address that nobody could access last week.
Moreover, the burn rate has exploded by over 1,800% today (December 27), resulting in additional 131 million assets being destroyed. The mechanism aims to reduce the circulating supply of SHIB and potentially make it more scarce and valuable in time.
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