Shiba Inu (SHIB) Burns Massive 410.74 Trillion Tokens, Driving Scarcity
- Shibarium has burned over 410.74 trillion Shiba Inu, including $1.5M worth, aligning with deflationary goals and reducing circulating supply.
- Shibarium processes 4.72M daily transactions, supports 2.01M wallets, and has 8.47M total blocks with a five-second average block time.
- Shibarium enhances SHIBs usability through low-cost transactions, staking, and governance, elevating its market position and ecosystem growth.
Since the launch of Shibariums mainnet in August 2023, debates have sparked within the Shiba Inu community about its impact on SHIB. Shibarium, the Layer-2 blockchain of the Shiba Inu ecosystem, was designed to bolster the ecosystem, reduce costs, and enhance scalability. However, its effect on SHIBs value has been met with mixed opinions.
In response to growing skepticism, Lucie, Shiba Inus marketing expert, took to X to outline Shibariums tangible contributions to SHIB.
Lucie highlighted Shibariums role in burning SHIB tokens. Over $1.5 million worth of SHIB has been incinerated since its inception. Shibariums fee structure supports this process. While validators receive priority fees, 70% of base fees are converted to SHIB and sent to dead wallets.
Since August 2023, the Shibarium burn portal has removed 300 million SHIB tokens from circulation. As a result, Shibarium directly enhances SHIBs scarcity, aligning with long-term deflationary goals. To date, a staggering 410.74 trillion SHIB have been burned, with 6.08 million tokens incinerated in the past day alone.
Shiba Inus Advancing Accessibility
Beyond burns, Shibarium enables low-cost transactions, paving the way for SHIB to be used in everyday applications. Lucie also underscored Shibariums role in creating new utilities for SHIB, such as staking and decentralized governance.
Shibariums adoption continues to soar. With 2.01 million wallet addresses, 8.47 million total blocks, and an average block time of five seconds, the network has processed 673.35 million transactions to date. The daily transaction volume currently stands at 4.72 million, indicating robust user activity.
Additionally, partnerships and decentralized applications (dApps) within the ecosystem point to Shibariums growing influence. Forbes recognition of Shiba Inu reflects the blockchains ability to elevate SHIBs market stature.
Shibarium has undeniably reshaped the Shiba Inu ecosystem, driving utility, accessibility, and deflationary progress for SHIB. As user activity remains strong, the Layer-2 blockchain is proving its worth in cementing SHIBs future.
Read more: https://www.tronweekly.com/shiba-inu-burns-410-74-trillion-tokens/
Text source: TronWeekly
