Shiba

Burn

Million

<ul> 
 <li>Shibarium processed over 200 million transactions, with almost 9 million occurring in the last day.</li> 
 <li>Approximately 8 million transfers occur daily on Shibarium, maintaining stability since early December.</li> 
 <li>The total wallets connected to Shibarium have surpassed 1.3 million, showcasing ongoing adoption as developers.</li> 
</ul> 
<p><a href="https://thenewscrypto.com/?s=shiba+inu" target="_blank" rel="noreferrer noopener">Shiba Inu’s</a> layer-2 solution, Shibarium, continues to gain steam three months after launch. According to recent <a href="https://www.shibariumscan.io/" target="_blank" rel="noreferrer noopener">data</a>, the network has now processed over 200 million transactions in total, with almost 9 million occurring just in the last day.</p> 
<h2 class="wp-block-heading" id="h-shibarium-clocks-200-million">Shibarium clocks 200 million</h2> 
<p>As of December 27, Shibarium’s overall transaction tally sits at a staggering 202,277,468, crossing the major milestone amid a volume surge over the past 24 hours.</p> 
<p>Around 8 million transfers now occur daily, a level that has held steady since early December, per the analytics site. This avalanche swamps the activity on layer-1 Ethereum, where SHIB originated.</p> 
<p>Alongside the exponential transaction growth, total wallets connected to Shibarium recently exceeded 1.3 million. Developers and platforms continue migrating to adopt the high-speed, low-cost network.</p> 
<h2 class="wp-block-heading" id="h-community-fuels-surge-with-shib-burns">Community Fuels Surge With SHIB Burns</h2> 
<p><a href="https://www.shibburn.com/" target="_blank" rel="noreferrer noopener">Data </a>reveals much of the recent activity comes from a booming burn initiative rather than payments or NFTs. This makes sense given that transaction fees on Shibarium get permanently destroyed.</p> 
<p>Over the past day, holders sent over 131 million SHIB to dead-end “burn addresses,” eliminating the tokens from circulation forever. This SHIB burn occurred across six transactions, the largest of which eliminated 124 million coins in a single move.</p> 
<p>Altogether, this community-driven burn push inflated Shibarium’s daily burn rate by a staggering 2400% day-over-day. Of course, lowering the token supply puts upward price pressure on the remaining SHIB.</p> 
<figure class="wp-block-image size-full">
 <img decoding="async" width="364" height="313" src="https://thenewscrypto.com/wp-content/uploads/2023/12/image-44.png" alt="" class="wp-image-88262" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/image-44.png 364w, https://thenewscrypto.com/wp-content/uploads/2023/12/image-44-300x258.png 300w" sizes="(max-width: 364px) 100vw, 364px">
</figure> 
<p>The momentum behind proactive and transaction-based burns spotlights the dedication around the meme coin project even after a crushing 95% price decline from 2021 highs. And with affordable transfer fees as low as $0.00001 on Shibarium, regular holders can cost-effectively participate.</p>

Shibarium Tops 200 Million Transactions As Burn Rate Soars

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