Since the beginning of March, when the Shibarium testnet was launched, the Shiba Inu army has continued their daily fires of SHIB, which have grown rather significant. The number of SHIB meme coins taken out of circulation each week has risen to several billion SHIB in recent times.
This time, several billions of these well-known meme currencies have been locked up in non-spendable wallets within a week. Shiba Inu meme currency has been trying to rebound over the previous several days, but so far the increase has only included 1.40% from Wednesday, May 24.
Close to 3 billion SHIB get burned
According to the Shibburn tracking service, 2,726,655,616 SHIB have been transferred to wallets that have no further need for them in the last week. According to a recent tweet, this is around half of what the SHIB army was able to remove from circulation the week before, when they burnt more than 5 billion SHIB, or approximately 53% more than they did this week.
Only 18,922,877 SHIB have been destroyed in five transactions during the previous 24 hours. The two largest transported 4,591,793 SHIB 13 hours ago and 11,823,597 SHIB four hours ago.
By destroying this many Shiba Inus, the burn rate has decreased by 22.87% as compared to yesterday, May 26.
Shibarium scores a new big milestone
As previously reported by U.Today, this week saw a significant achievement for the Layer-2 network Shibarium’s beta test version. Puppyscan reports that there are currently 16,030,842 wallets linked by users to Puppynet, surpassing the previous record of 16,000,000.
12,837,402 transactions have been made in total, which is getting close to 13 million.
The developers of Shibarium assured the SHIB army, which includes of many businesses and developers in addition to individual holders, that they will implement exceptionally cheap fees and quick transactions over the Layer-2 network. Wallets are already joining the Shibarium beta in increasing numbers.
