• Lead developer Shytoshi Kusama has confirmed that trillions of SHIB coins will be burnt with the release of Shibarium, a Layer-2 scalability network.
• Whale Alert has detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins between anonymous crypto addresses.
• Shiba Inu (SHIB) is currently exchanging hands at $0.00001153 and is 0.43 percent down.
The Shiba Inu community is abuzz with excitement as its lead developer Shytoshi Kusama has recently confirmed that trillions of SHIB coins will be burned with the release of the Layer-2 scalability network Shibarium. Shiba Inu (SHIB) is the meme-based cryptocurrency that has taken the crypto world by storm, and the announcement of the burn rate uptick has further fuelled the hype.
The confirmation of the SHIB burn rate comes just as a massive number of SHIB coins have been on the move between anonymous crypto addresses, as reported by the crypto tracking platform Whale Alert. The crypto tracking platform had recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins, thus creating much excitement among the Shiba Inu community. On Thursday, the SHIB price rallied by 4 percent, however, failed to continue the momentum. The dog-themed crypto is still trading down from last week’s high of $0.00001273 when the SHIB price had jumped 20 percent in a day.
The Shiba Inu community is now eagerly awaiting the launch of Shibarium, which has been teased quite a few times recently and is expected to launch soon. The launch of the Layer-2 scalability network could be the game-changer for Shiba Inu and could be the catalyst for the SHIB price to reach its new all-time high. If the SHIB burn rate is indeed increased as promised, it could drive the SHIB price to $0.01, thus leading to massive returns for investors.
The crypto world is now keeping a close watch on the developments of the Shiba Inu project and the launch of Shibarium. The crypto community is expecting the project to be a success and is hoping that the SHIB burn rate will indeed increase significantly. Until then, the Shiba Inu community will have to wait and watch as the SHIB price struggles to break out of its current downtrend.