Some crypto analysts argue that the Shiba Inu found support which will give this memecoin renewed interest among buyers. And that’s not all, conditions are ripe for a bullish rally of the SHIB. Currently, Shibarium is counting over a million crypto wallet addresses. However, the more this layer 2 Ethereum blockchain experiences traffic, the more the SHIB burn rate increases. And corollarily the price of the crypto itself.
In short
- Recent statistics speak of a 633% increase in the total number of smart contracts on Shibarium
- This layer 2 scalability platform from Shiba Inu has also recorded an impressive number of crypto wallets, more than a million since its reopening on August 24
More than 1.25 million crypto wallet addresses on Shibarium
Hastily launched in the middle of August, the Shibarium was a resounding flop. Following connection problems, the bridge caused the blocking of around $2 million in ETH. The Shiba community had no choice but to wait for it to reopen a week later.
“ Shibarium
Congratulations !
Total transactions: 3,000,0000
Wallet addresses: 1,250,000
Let’s go! »
In a recent publication, Quincepe did not hesitate to associate this impressive phenomenon with a bullish rally for the Shiba Inu. Although disappointing in its beginnings, the Shibarim finally displays good statisticsthis after a month of existence.
Increase of 633% of the number of its smart contracts, number of crypto wallet addresses estimated at more than 1.25 million, more than 3 million transactions, approximately 747,000 blocks, etc. This demonstrates the success of Shiba Inu’s layer 2 Ethereum blockchain. (Source : Data from Shibariumscan.io)
Coingape also mentioned the recording of 36,667 new crypto wallet addresses daily. Coupled with the increased number of smart contracts, which is 415, this figure demonstrates that Shibarium has acquired a utility status almost indisputable.
And yet, clouds darkened the skies of Shibarum during launch week. Between September 14 and 17Shiba Inu’s second layer solution was unable to integrate only 8 smart contracts verified. On September 18, however, 19 smart contracts of the same ilk integrated Shibarium.
Note also that today’s Shibarium has more than 9,900 contracts.
Crypto SHIB, heading to the moon?
Shytoshi Kusama, the lead developer of Shiba Inu, was clear on this: in the absence of SHIB burn, there will be no bull run. This is the sine qua non condition.
However, the burning of SHIB tokens is also complemented by the DeFi ambitions of the team behind Shiba Inu, existing or future inventions (Shiba burn portal, Shiba Eternity, Shib: The Metaverse, etc.)
In a recent tweetLUCIE de SHIBA highlighted the need to move cryptoassets from centralized exchanges (CEX) to Shibarium. This transfer will in fact accelerate the burn of Shiba Inu tokens since part of the transaction fees on its layer 2 ETH blockchain will be burned.
In other words, the more crypto traders use Shibarium, and carry out a high volume of transactions, the more SHIB tokens will go into “dead wallets”.
The ball is therefore in the court of the Shiba Inu community.
“ It’s lovely to see people who advertise burns and never use Shibarium, but the fact is that SHIB burns come froma community effort, not a call from developers saying ‘Do something’. To initiate burns, you must actively use Shibarium. The more you use it, the more you contribute to burns “, she clarified.
At the moment, the SHIB token has not seen any rise. It was trading at $0.000.0072 per coin at the time of writing.
The icing on the cake is that Shytoshi Kusama has already announced that a portal for SHIB burning will be released soon.
Receive a summary of the news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss anything of the Tremplin.io essentials!
