Blockchain News

Shiba Inu Skyrockets: 1900% Surge in Burn Rate as Shibarium Testnet Hits 25 Million Transactions

Shiba Inu, the meme-based cryptocurrency, experienced a staggering 1900% surge in burn rate within just 24 hours. This remarkable spike follows the milestone achievement of the Shibarium testnet’s 25 million transactions, fueling excitement and anticipation for the upcoming mainnet release.

PuppyScan, the dedicated blockchain explorer for Shiba Inu, reports that the Shibarium beta testnet surpassed 25 million transactions, reaching an astonishing 25,507,335. The actively participating wallet addresses also hit an impressive figure of 17,001,839, showcasing widespread engagement and interest in this captivating cryptocurrency.

With over 1,483,165 processed blocks and an average block time of just 7.5 seconds, the testnet demonstrates remarkable efficiency and scalability. These impressive statistics contribute to the growing optimism surrounding Shiba Inu, highlighting the expanding possibilities within its ecosystem.

The excitement escalated when Shytoshi Kusama, the esteemed lead developer of SHIB, teased a forthcoming announcement on Twitter. Sharing a compelling video clip and image, Kusama hinted at something significant on the horizon. The community eagerly awaits further updates as the anticipation for the mainnet release and the potential of the innovative Shibarium platform continues to grow.

With Shiba Inu trading at $0.000007722 and a 3% increase in the past 24 hours, the recent surge in burn rate and the milestone achieved by the Shibarium testnet contribute to the prevailing positive sentiment surrounding the cryptocurrency. The project’s future growth and widespread adoption appear promising, with the solid foundation established by the testnet’s success and increasing engagement in Shiba Inu transactions.


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