This metric of the Layer-2 blockchain continues to show low performance with occasional surges
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On March 24th, Sunday, this metric showed a 729% surging, jumping from 8,060 to the 66,880 level. This is a significant increase within merely 24 hours. However, overall, compared to March 16th with over one million daily transfers this is quite a low figure. This metric also impacts the overall transaction count, which continues to hold above the 412 million level. Over the past couple of weeks, it has progressed merely to 412.7 million. In one of her recent tweets, Lucie, the Shiba Inu team’s marketing lead warned that due to multiple tests and updates that are being implemented on Shibarium now, there may be low activity on this Layer-2 solution and various holdups observed.
Shibburn tracking service has shared that within the last 24 hours, the overall burn rate of Shiba Inu meme coins has been severely negative,. Still, quite a large amount of meme coins was moved out of circulation this time – 21,401,675 SHIB. This burn was achieved with the help of nine burn transactions, the largest of which carried 18,358,729 SHIB.
Over the past three days, the second largest meme cryptocurrency SHIB has been trading sideways, moving in a range between the low line of $0.00002758 and the high line of $0.00002842. Overall, the decline since Saturday constitutes almost 3%. At the time of this writing, the popular meme coin is changing hands at $0.00002759 on the Binance exchange.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017.
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