According to data provided by the Shibburn website, which keeps track of Shiba Inu tokens that have been burnt, the SHIB community has been successful in getting rid of another sizable quantity of meme coins during the past 24 hours.
These fires are probably being fuelled by Shibarium, a Layer-2 blockchain that is aiming for yet another significant utility milestone, and its expanding user base.
Almost 80 million SHIB burned, Shibarium close to new high
75,192,032 SHIB meme coins were discovered to have been moved to invalid blockchain addresses in the previous 24 hours, according to Shibburn.
There have been 12 transactions, with the largest holding 54,633,331 SHIB, or around two thirds of the entire burnt value. The SHIB army burnt around 570,000,000 Shiba Inu during the course of the previous week through 130 transfers, with a slight 71% increase in burn rate. SHIB burns totaling 86,429,656 meme coins were noted by Shibburn on Monday.
Shibariumscan Explorer demonstrates that the Layer-2 blockchain has been making significant progress, as evidenced by the surge in its metrics as this week got underway. Shibarium is currently on the verge of setting a significant new milestone with approximately 3,000,000 transactions.
Blocks mined have increased to 708,052 and there are currently 1,246,644 linked wallets. Since a recent record of more than 200,000 daily transfers, the number of daily transactions has decreased to 42,830.
Here’s when large SHIB lumps will be burned through Shibarium
The community, which continues asking her when Shibarium would start burning billions of SHIB, should start using the Layer-2 blockchain a lot more actively than it is right now, according to a recent X post by the official Shiba Inu spokesperson Lucie.
When the SHIB army will move from exchanges to Shibarium, not when Shibarium will start to burn, is the question at hand, as Lucie put it. “The burns are set per transaction, not based on tweets about burns,” Lucie continued. Why not support this action with millions of holders?
She advised the community to encourage fires instead of bugging the SHIB development team about them because every transaction made on Shibarium contributes to burning SHIB. Gas fees are paid in BONE tokens, and a portion of the charge is set aside for this purpose. When a certain threshold is reached, the BONE tokens are converted into SHIB and placed to an unspendable wallet.
Lucie came to the following conclusion: “You must actively utilise Shibarium to induce burns. You contribute more to the burns the more you use it.