Memecoin Shibatoken is seeing steady token burn, prices look primed for a shootout
to data from Shibburn, more than 8 million SHIB tokens have been burnt over the past 24 hours, a figure that represents a 0.78% uptick.
The growth in the total number of SHIB burnt is a confirmation that on-chain transactions are steady, even though they can be judged as slow considering the low growth rate.
at $0.00001062, down by 1.72% over the past 24 hours to pare off some of the gains picked up during the week.Shiba Inu has maintained its outlook as the second largest meme coin after Dogecoin , and it continues to serve as a major model for a whole lot of other tokens making their debut now.Growing Shibarium embrace
Shibarium, the sensational Layer 2 protocol from Shiba Inu, has continued to see a very robust positive reaction, as shown in the growth in the total transactions recorded on the protocol. In literal terms, this transaction count surged to its all-time high , per an earlierWith the current outlook, one major move we can expect SHIB to make is to record a major price rebound in the short term, especially if activities on Shibarium intensify.
Shibarium's adoption has a very promising undertone for the parent meme coin, as a certain amount of SHIB gets burnt with each transaction that takes place on the Layer 2 protocol. Many are projecting that the long-term price performance of Shiba Inu will hinge on this advanced transaction count on Shibarium, as well as other protocol metrics.
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