Shiba

Millions

Shiba Inu

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According to data provided by the <a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">Shibburn wallet tracker</a>, over the span of the last 24 hours, the SHIB army has transferred several tens of millions of <a href="https://u.today/shib-partner-bad-idea-ai-bad-plans-to-leverage-elon-musks-grok-ai-bot" rel="noopener noreferrer nofollow">SHIB</a> to dead-end wallets — 49,806,773 Shiba Inu meme coins in total.
Nearly all of these SHIB got burned in a single transfer, which moved 49,750,000 SHIB to the "blockchain furnace." The other four transfers have not exceeded 20,360 Shiba Inu.
<blockquote>
 🔥 49,750,000 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> -&gt; transferred to dead wallet. <a href="https://t.co/lFMZtfPaw4" rel="noopener noreferrer nofollow">https://t.co/lFMZtfPaw4</a>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1725685791844597874?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 18, 2023</a>
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In the meantime, the second largest meme cryptocurrency Shiba Inu shows an approximately 10% decrease since Nov. 11. On Tuesday, Nov. 14, the <a href="https://www.tradingview.com/symbols/SHIBUSDT/" rel="noopener noreferrer nofollow">SHIB price reached</a> a 15% drop but then reversed and has shown a 6.77% increase since then. It has several times tried to break through the $0.00000910 resistance, but these attempts were unsuccessful.
<h2 id="shibarium-main-metrics-slow-down">Shibarium main metrics slow down</h2>
<a href="https://www.shibariumscan.io/" rel="noopener noreferrer nofollow">Shibariumscan explorer</a> shows a slowdown in two major metrics that measure the utility of this Layer-2 blockchain — transactions and connected wallets.
Currently, the total transaction count on Shibarium stands really close to the 4-million mark at 3,968,531 with only around 100,000 new transactions added over the past couple of weeks. For more than a month, the total count froze slightly above the 1,800,000 level too.
At the time of this writing, the daily transaction count shows 12,360 after a recent local peak of 12,360 on Oct. 25. Several times in September after Shibarium was relaunched, this peak reached a whopping 200,000 level and even surpassed it.
The number of connected wallets on Shibarium seems to be the slowest to rise. At the moment, this metric shows 1,266,148 in total. Two weeks ago, <a href="https://u.today/shibarium-eyes-new-milestone-of-4-million-transactions" rel="noopener noreferrer nofollow">it stood at 1,259,958</a>.

Millions of Shiba Inu Burned, While SHIB Price 10% Down

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