Shibarium Set to Burn Billions of SHIB, Could Drive Price to $0.01

29. Januar 2023 Aus Von admin

• Lead developer Shytoshi Kusama confirms billions of SHIB will be burned with the release of Shibarium, a Layer-2 scalability platform.
• Whale Alert recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins.
• Currently, Shiba Inu (SHIB) is exchanging hands at $0.00001153 and is 0.43 percent down.

The crypto-world is abuzz with the upcoming launch of Shibarium, a layer-2 scalability network for Shiba Inu (SHIB). The dog-themed crypto has been on a roller coaster ride for the past few weeks, with a massive number of SHIB coins having been moved between anonymous crypto addresses. This has caused a lot of talk and speculation in the crypto community, with many wondering if this could lead to a surge in the SHIB price.

Fortunately, the Shiba Inu community has been assured of an uptick in the burn rate of the memecoin. Lead developer Shytoshi Kusama recently confirmed on discord that billions of SHIB coins will be reportedly burnt with the release of the Layer 2 platform Shibarium. This comes after the crypto tracking platform Whale Alert detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins.

The news of the upcoming burn rate has caused some optimism among Shiba Inu holders, with the SHIB price rallying by 4 percent on Thursday. However, the SHIB price has failed to continue the momentum and is still trading down from last week’s high of $0.00001273.

In order to drive the SHIB price to the next level, it is expected that the upcoming burn rate of billions of SHIB coins will play a critical role. By reducing the circulating supply of the memecoin, holders are hoping that the SHIB price could potentially rise to as high as $0.01.

At present, the Shiba Inu community is eagerly awaiting for the beta launch of Shibarium. With the crypto market in a state of flux, the launch of the Layer-2 scalability network could be a game-changer for Shiba Inu holders. Only time will tell if the burn rate of billions of SHIB coins can really drive the price to $0.01.