• Developer Shytoshi Kusama confirms billions of SHIB coins will be burned with the release of Shibarium.
• 3,312,307,240,798 SHIB coins have recently been transferred between anonymous crypto addresses.
• SHIB has been exchanging hands at $0.00001153 and is 0.43 percent down.
The Shiba Inu community is eagerly awaiting the launch of its Layer-2 scalability network Shibarium. The beta launch of Shibarium has been teased quite a few times recently and is expected very soon. To the relief of the Shiba Inu (SHIB) holders, the lead developer Shytoshi Kusama recently confirmed on discord that trillions of SHIB coins will be reportedly burnt with the release of the Layer 2 platform Shibarium.
This news comes shortly after the crypto tracking platform Whale Alert detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins. This large transaction is just one of the many that have occurred in the month of January. Although, the SHIB price rallied by 4 percent on Thursday, it failed to continue the momentum and is still trading down from last week’s high of $0.00001273 when the SHIB price had jumped 20 percent in a day.
The SHIB burn rate has been tanking, however, the Shibarium release is expected to increase the burn rate of the memecoin. As of now, Shiba Inu (SHIB) has been exchanging hands at $0.00001153 and is 0.43 percent down. The one thing that’s holding up Shiba Inu from performing well is the massive supply and the decline in the burn rate.
The Shiba Inu community is awaiting the launch of Shibarium in hopes that the burn rate will increase and the SHIB price will jump. Follow us for the latest crypto news and updates to know when the Shibarium launch happens!