Over 3,800,000,000 Shiba Inu (SHIB) Disappears As Burn Rate Explodes 1,131% Following Shibarium Beta Release - The Daily Hodl
16 Mar 2023 4:55 PM
More than 3.8 billion Shiba Inu (SHIB) tokens were burned and permanently eliminated in the five days following Shibarium's beta launch....
- Over 3.8 billion Shiba Inu (SHIB) tokens were burned and permanently eliminated in the five days following Shibarium's beta launch.
- SHIB's burn rate exploded by 1,316.43% on Tuesday, with the memecoin burning a total of 452,950,434 tokens in the 24-hour period between Monday evening and Tuesday evening.
- Shibarium is the Shiba Inu's ecosystem layer-2 protocol built on top of Ethereum (ETH), similar to Polygon (MATIC).
- Once the beta test is complete, the protocol will generate a new ecosystem of custom coins that can be traded using Bone ShibaSwap (BONE) to pay for gas fees.
- SHIB is trading at $0.00001 at the time of writing and is down 7.8% in the past 24 hours.
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The article reports on the recent burn rate explosion of SHIB tokens following the beta launch of Shibarium, a layer-2 protocol built on top of Ethereum. The sentiment is neutral, providing factual information without expressing a positive or negative opinion.
What is Shibarium and what is its purpose?
How many SHIB tokens were burned following the beta launch of Shibarium?
What is the estimated timeline for Shibarium's beta testing?
What will happen once the beta test is complete?
What is the current trading price of SHIB and how has it performed in the past 24 hours?