TL;DR
The popular memecoin – Shiba Inu – remains a trendy topic for numerous cryptocurrency participants, while news surrounding the token keep making the headlines. One feature that captures much of the attention is the layer-2 blockchain solution – Shibarium – which went live in August and managed to reach several milestones in the following months.
According to Shibariumscan, the network’s total blocks recentlysurpassedthe 1.5 million mark. In addition, the number of overall transactions is inching towards the coveted level of 4 million, currently standing at over 3.8 million. Wallet addresses have surpassed 1.2 million.
Shibarium aims to elevate Shiba Inu above its rivals in the memecoin realm by improving speed and lowering transaction costs. Its further advancement is touted as a bullish factor that could propel a price increase for SHIB. The asset has spiked a mere 2% for the past seven days and more than 12% on a two-week basis (per CoinGecko).
Those willing to learn more about Shibarium’s purposes and specifics could take a look at our dedicated video below:
Another element that might trigger a SHIB price rally could be the successful ution of the Shiba Inu burning program. The projectwitnessedalmost 1.5 billion tokens destroyed last month, with the record day being October 28, when more than 250 million coins were removed from circulation
Earlier this month, Shiba Inusawover 100 million tokens burned in just 24 hours (a 1,300% increase compared to the day before), suggesting that a substantial amount would be sent to an address that nobody could access in November, too.
