- Shiba Inu’s layer two scalability platform, Shibarium, has received positive feedback from the community, and anticipation is building for the launch of the Shibarium mainnet.
- Shiba Inu (SHIB) continues its burning campaign, with significant burns executed by entities such as Coinbase, a dormant whale, and the Blaze Token project.
A lot has been happening in the Shiba Inu community recently with some key developments within the Layer-2 scalability platform Shibarium. The launch of the Shibarium testnet received a good response from the community and everyone now awaits the launch of the Shibarium mainnet.
Shytoshi Kusama, the pseudonymous developer of Shiba Inu recently shared a message on Discord stating that he’s been quiet for a while since he’s busy building something interesting. Raising the curiosity among community members even further, Kusama said that there are “many great things in the work”.
— Shiba Inu News (@ShibalnuNews) May 30, 2023
On the other hand, the Shiba Inu (SHIB) burning continues to reduce more SHIB from the circulating supply and increase its value. Just a day ago, crypto exchange Coinbase burned a total of 200 million SHIBs. On the other hand, a dormant whale was recently inactive for two years, a total of 520 days, and abruptly woke to burn its SHIB holdings in one single transaction.
Recently, a new project dubbed the Blaze Token has joined the Shiba Inu burning club. On Tuesday, May 30, the project removed a total of 3.6 billion SHIB tokens, worth $31,621, which makes it one of the most notable SHIB burning transactions of the year 2023.
It is not the first time that Blaze Token has been burning SHIB tokens. Prior to this, it burned billions of Shiba Inu in separate batches of 1.2 billion, 3 billion, etc. Blaze Token has been among the biggest contributors responsible for the largest SHIB burns.
— Blaze Token (@blaze_token) May 29, 2023
Shiba Inu Milestones and Updates for June
Shiba Inu (SHIB) experienced a significant surge in the adoption of its layer two chains called Shibarium. The data indicates that the Shiba Inu (SHIB) layer two network has successfully processed 13 million transactions, involving over 16 million unique wallet addresses.
As part of its burn strategy, Shiba Inu (SHIB) has launched an extensive burning campaign, resulting in over 40% of the total supply being burned to date. This development has sparked excitement among long-term Shiba Inu (SHIB) holders. Analysts have maintained a positive outlook, projecting Shiba Inu (SHIB) to trade within the range of $0.0002093 and $0.00002544 by 2024.
Shibburn, Shib’s Inu burn tracker, has revealed the next burn initiative for SHIB coins. The update also notes that the platform shall be migrating to a new website in the next month of June. In addition to the existing burn tracking feature, several new tools will be introduced to facilitate burns and assist users. These tools include the ability for community members to create personalized Shibburn bios, showcase their links, and utilize NFTs through platforms like OpenSea and Blur.
The integrated Shibburn marketplace will allow users to add products, charts, burn data, and more. Notably, users will have the opportunity to receive “reward tokens” when they burn tokens. Furthermore, the upcoming website will provide free plugins for WordPress and Drupal, enhancing convenience for users who wish to integrate the service into their platforms.
Our new site will launch next month. Tracking burns will still be a feature, but we have many other tools that will help with burns that you can use. You will be able to earn $SHIB using our affiliate program, and our upcoming web3 advertising system.
Everyone will be able to… pic.twitter.com/uMvX5nB3cU
— Shibburn (@shibburn) May 26, 2023