Shiba Inu's Burn Rate Explodes 1088% As Layer-2 Network Shibarium Completes One Year Since Launch
Portfolio Pulse from Aniket Verma
Shiba Inu's Layer-2 network, Shibarium, celebrates its first anniversary with a significant increase in SHIB's burn rate by 1088%. Shibarium has processed over 418 million transactions, contributing to SHIB's deflationary pressure.
August 22, 2024 | 4:07 am
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POSITIVE IMPACT
Shiba Inu's Layer-2 network, Shibarium, has completed its first year, leading to a 1088% increase in SHIB's burn rate. This deflationary pressure is likely to positively impact SHIB's price.
The significant increase in SHIB's burn rate due to Shibarium's activity suggests a deflationary trend, which typically supports price appreciation. The network's success in processing over 418 million transactions further solidifies its role in the ecosystem, likely boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90