Shiba Inu Burn Rate Spikes 1800% After Shibarium Testnet Hits 25M Shows 'PuppyNet'
Portfolio Pulse from Mehab Qureshi
Shiba Inu's burn rate spiked 1800% after the Shibarium testnet crossed 25 million total transactions. The number of wallet addresses involved in Shiba Inu transactions has reached over 17 million. Shibarium is an L2 blockchain platform that allows the development of Decentralized Applications (DApps). Shiba Inu was trading up 3% in the last 24 hours.
June 30, 2023 | 11:45 am
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Shiba Inu's burn rate spiked significantly after the Shibarium testnet crossed 25 million transactions, indicating increased activity and interest in the cryptocurrency. This could potentially drive the price up in the short term.
The spike in Shiba Inu's burn rate indicates increased activity and interest in the cryptocurrency. This, coupled with the growth of the Shibarium testnet, could potentially drive up the price of Shiba Inu in the short term as more people buy and use the cryptocurrency.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100