the meme cryptocurrency Shiba Inu (SHIB) faces conflicting metrics amid recent market slump. Even with the burn rate skyrocketing more than 4.000% in the last 24 hours, the price of memecoin continued to fall.
The purpose of the burn is to reduce the global supply of SHIB tokens, leading to some scarcity and potentially a price increase. Furthermore, the metric signals great confidence in the future of the project.
According to data released by the Shibburn platform, on April 3, in the last 24 hours, there were a total of 154.999.579 $SHIB tokens burned and four transactions.
In the past 24 hours, there have been a total of 154,999,579 $ SHIB burned tokens and 4 transactions. visit https://t.co/t0eRMnyZel to see the overall total of #SHIB burned tokens, circulating supply, and more. pic.twitter.com/rhajRJLTud
— Shibburn (@shibburn) April 3, 2024
In this article, we will discuss:
Shibarium reaches another big milestone
Shibarium, a powerful layer 2 network in the Shiba Inu (SHIB) ecosystem, recently reached an impressive new milestone. According to the platform shibariumscan, the total number of blocks on the network managed to surpass the 4 million mark. Furthermore, wallet addresses are heading towards the 1,4 million mark.
According to the data, currently the daily transactions of the Shiba Inu layer 2 solution have reached the mark of 4,95 thousand. In total, to date, the number of transactions is 413.166.567.
At the time of publication, the Shiba Inu price (SHIB) was quoted at US$0,00002675 with an increase of 1.9% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$855.956.650. In its weekly development, the SHIB memecoin price has seen a 12.9% pullback in the last seven days.
Launch of DAMN memecoin drives new Shibarium TVL record
Shibarium recently reached a milestone related to new historical record in its total value locked (TVL). This metric skyrocketed to an impressive $3,87 million.
The recent surge was driven by the launch of meme cryptocurrency Sol Killer (DAMN) on WoofSwap, a decentralized exchange operating on Shibarium. On March 18, the memecoin DAMN was introduced to the market, driving a price increase of more than 523% in just three days.
