After a challenging start, Shibarium, an advanced technological layer that works with the Shiba Inu cryptocurrency, has made an impressive comeback. When this technology was first introduced as a test version, it faced various difficulties. This prompted the dedicated team behind its development to carefully address and resolve these problems.
Shytoshi Kusama, a key figure in the development efforts, stated on Monday that the Shibarium network is now fully operational again. This important accomplishment has led to a noticeable increase in both user activity on the network and the number of transactions taking place through it.
Data collected from the network’s tools for exploring its activities sheds light on a substantial increase in the user community of the Shibarium network. This number has surged significantly from a modest 100,000 on August 24 to an impressive total of over 584,969 transactions.
Shibarium Bounces Back Strong, Token Burning Accelerates
Over the last day, the speed at which Shiba Inu tokens are being systematically removed from circulation, often referred to as “burned,” has experienced a remarkable surge, surpassing a growth rate of 110%.
This swift escalation in token burning has resulted in a permanent reduction of a significant 86 million SHIB tokens from the total number in circulation. These insights are sourced from Shibburn, a dedicated tracking tool designed to meticulously monitor the process of token burning for Shiba Inu.
The Importance: Given the ongoing trading value of SHIB, currently at $0.0000082, it’s clear that even a small investment of $8.15 could potentially lead to someone becoming a SHIB millionaire, thanks to the ownership of 1,000,000 SHIB coins.
Furthermore, statistical findings from Whalestats contribute an additional layer of significance. In the past 24 hours, SHIB has unquestionably solidified its position as the most actively traded token in the world of cryptocurrency.
Shibarium has made an impressive comeback after a tough start. The dedicated development team worked hard to fix initial problems, leading to more people using it and more transactions happening. Also, the significant decrease in SHIB tokens due to faster burning shows changes in the cryptocurrency world, backed by SHIB’s active trading role.