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Home News Shibarum Revolutionizes SHIB Burns with New Mechanism

Shibarum Revolutionizes SHIB Burns with New Mechanism

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Shibarum Revolutionizes SHIB Burns with New Mechanism
hibarum announces a transformative burning mechanism for Shiba Inu tokens, aiming to reduce supply and increase value within the Shibarium ecosystem.

Innovative Burning Mechanism on Shibarium

The Shiba Inu marketing expert, @LucieSHIB, has recently announced a groundbreaking mechanism for burning Shiba Inu tokens. This new system, set to be implemented on the Shibarium blockchain, is designed to strategically reduce the circulating supply of the beloved canine-themed asset by transferring tokens to unspendable wallets. This move is expected to potentially boost the value of SHIB within the Shibarium ecosystem.

Increased Activity and Price Surge on Shibarium

The Shibarium blockchain has been witnessing a significant uptick in transaction activity. Accompanying this rise in activity is a notable overnight surge in the price of SHIB tokens.

Testing and Upgrades of the Burn Mechanism

This transformative burn mechanism will initially be tested on the Shibarium testnet, Puppynet. Unlike previous manual processes, this new approach will be automated, ensuring efficiency and transparency. The SHIB team is also incorporating numerous upgrades to enhance the system’s reliability. The full deployment of this mechanism on the Shibarium mainnet will follow these testing and upgrade phases.

Growth and Metrics of Shibarium

The Shibarium layer-2 solution is experiencing substantial growth in on-chain activity, with over six million transactions added in the past 24 hours. The total number of transactions now stands at 306,140,448. Furthermore, the Shibarium network has seen a steady increase in connected wallet addresses, now totaling 1,344,018. However, there’s a noted decrease in the daily transaction number, currently at 2.07 million.

Disclaimer This article is for informational purposes and not financial advice. Opinions expressed are the author’s and do not reflect Kryptowale’s stance. Readers should conduct thorough research before making investment decisions. Kryptowale bears no responsibility for financial losses.

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Shiba Inu 0
Riding the wave of Bitcoin's recent surge, Shiba Inu (SHIB) has broken above the $0.00001 mark. This jump comes with increased market capitalization and trading volume, fueled by optimism and a "Dogecoin Killer" narrative.
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