As the new week began, the quantity of SHIB burnt per day increased significantly as more than half a million of these meme coins were delivered to inactive wallets.
The price of SHIB, the second-largest dog-themed cryptocurrency, has increased marginally by 1% after falling by 4% on Sunday.
601 million SHIB sent to “inferno” wallets
The preceding 24 hours were remarkable for the SHIB army, according to information provided by the Shibburn wallet tracker, as the amount of SHIB in circulation decreased by a total of 601,643,004 Shiba Inu during this time.
The biggest chunks transferred to deceased wallets, which Shibburn revealed in the table of documented burn transactions, had almost 20 million Shiba Inu apiece.
601 million against 559 million meme coins, or about one hundred million SHIB, separates the aforementioned composed SHIB lump from the one incinerated on Monday.
Shibarium smashed new utility record
Shibarium testnet just reached a critical new utility milestone, as was previously reported by U.Today. The overall number of transactions has increased by around 1.5 million during the past week, hitting an all-time high of 28,645,428.
There are still 17,061,463 wallet addresses linked to the Puppynet test chain.
After the conclusion of the Eth Toronto conference in Canada on August 16, the launch of the Shibarium mainnet is anticipated to take place. According to a recent blog post by Kusama on Medium, the conference will feature Shytoshi Kusama as a virtual speaker, all SHIB-branded initiatives will be made public, and a thorough discussion on the Shibarium launch is anticipated to occur.
However, senior SHIB team member Lucie reminded the SHIB army yesterday that there is no set time for the introduction of Shibarium. But according to her, the Layer 2 protocol is about to be released by the development team.
SHIB price action
The Shiba Inu dog token has been trying to regain ground after dropping almost 4% on Sunday. It recovered 2.27% on Monday, however the price increase was afterwards lost. SHIB managed to increase by 1.52% earlier today, but it has now started to decline a bit.
As of the time of writing, the meme currency is trading on the Binance platform for $0.00000755.
