Shiba Inu’s Layer-2 scaling solution, Shibarium, has seen a surge in popularity with over 634,000 active addresses. The platform boasts 600,000 active wallets and facilitates over 700,000 transactions. In the past 24 hours, an impressive 52 million SHIB tokens were destroyed, effectively reducing the circulating supply. The public launch of Shibarium is responsible for the increase in monthly burns. The SHIB team had previously indicated that every transaction on Shibarium would result in the burning of SHIB tokens. As of now, Shibarium boasts 634,617 wallet addresses and has processed approximately 700,000 transactions, with more than 20 million BONE tokens staked on the platform.In August, Shiba Inu experienced a significant surge in token burn rate, with the community destroying a remarkable 5.71 billion SHIB tokens. August’s most noteworthy burn event occurred on the 21st when the community orchestrated the incineration of an impressive 1,013,502,366 (1.01 billion) SHIB tokens. This was accomplished through twenty-four transactions, with significant contributions from MARSWAP (MSWAP) and two mysterious wallets.An unidentified SHIB holder moved nearly $38 million worth of tokens, initiating with $160,000 in SHIB and subsequently transferring $37.4 million to a new Ethereum wallet. The forthcoming impact of Shibarium on the Shiba Inu ecosystem, particularly concerning tokens like SHIB and BONE, remains a captivating subject.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Unification, Shibburn.com, Polygon, MARSWAP, Shiba Inu
Currencies	Bone ShibaSwap, Shiba Inu, Ethereum, MoneySwap, Bitcoin
Securities	None