The live Shiba Inu price today is $0.000011 USD with a 24-hour trading volume of $212,435,680 USD.Get detailed Shiba Inu cryptocurrency price news, analysis and more on BitcoinLFG.

SHIB is the main token of Shiba Ecosystem, bringing the power of a decentralized, community-led currency to millions across the globe.

834 Million SHIB Burned In The Past Week

According to the Shibburn Twitter account, over 834 million SHIB have been burned in the past week.Meanwhile, in the past 24 hours, a total of 3,053,513 SHIB tokens have been burned in four transactions. The daily burn rate is up 127%, according to the Shibburn website.Shiba Inu (SHIB) has received a lot of attention recently because of Shibarium.

Shibarium’s beta release marks a significant development for the Shiba Inu community and the broader crypto market. With quicker and cheaper transactions, staking rewards, and a DEX supporting SHIB and other ERC-20 tokens, Shibarium has the potential to transform the Layer 2 solutions landscape.

The Shibarium potential is enormous as it is expected to revolutionize the Shiba Inu ecosystem and the crypto space.The Shibarium project will help Shiba Inu evolve into more than a memecoin.Users can access Shibarium’s test tokens through private test network portals.

RELATED READING : Shiba Inu | The official Shibarium Documentation Is Ready

The SHIB army expects the release of Shibarium to push the price of SHIB up as tons of Shiba Inu tokens will be burned for every transaction.One of the goals of the hotly anticipated Shibarium Layer 2 solution is to burn trillions of tokens.As more users transfer, pay or utilize Shiba Inu in any way, more tokens are sent to the burn address.

What is Shiba Inu?

Shiba Inu is a cryptocurrency that was created in 2020 by a mysterious person who calls themselves Ryoshi. The name ‘Shiba Inu’ was stolen from the fluffy dog that was the subject of many memes at the time.The coin started as a joke it was meant as a kind of parody of Dogecoin, which was rising fast in both price and popularity despite having little use in the real world. In fact, Shiba Inu called itself a “Dogecoin killer.”

Shiba Inu runs on the Ethereum blockchain, and while each token or coin is worth just a fraction of a cent, the price went wild in 2021 turning a few early investors into millionaires.While prices have gone back down from whence they came, it still remains one of the most popular cryptos.The Shiba Inu development team is currently busy working on two major projects: SHIB Metaverse and the much-awaited Layer 2 protocol, Shibarium.

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