• Shiba Inu (SHIB) has been exchanging hands at $0.00001153 and is 0.43 percent down.
• Lead developer Shytoshi Kusama recently confirmed that trillions of SHIB coins will be reportedly burnt with the release of the Layer 2 platform Shibarium.
• The crypto tracking platform Whale Alert recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins.
The Shiba Inu community has been eagerly awaiting the launch of its Layer-2 scalability network Shibarium for some time now. Lead developer Shytoshi Kusama recently confirmed on discord that with the release of Shibarium, trillions of SHIB coins will be reportedly burnt. This would help address one of the main issues holding back Shiba Inu from performing well – the massive supply and the decline in the burn rate of the memecoin.
Currently, Shiba Inu (SHIB) has been exchanging hands at $0.00001153 and is 0.43 percent down. On Thursday, the SHIB price rallied by 4 percent, however, failed to continue the momentum.
The crypto tracking platform Whale Alert recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins between anonymous crypto addresses. This is an indication that the SHIB price could be on the rise as the burn rate of the memecoin increases.
The Shiba Inu community is looking forward to the beta launch of Shibarium, which has been teased quite a few times recently and is expected very soon. With the launch of Shibarium, it is expected that the SHIB price could reach $0.01, as the burn rate of the memecoin increases and the supply shrinks.
So far, the SHIB price is still trading down from last week’s high of $0.00001273 when the SHIB price had jumped 20 percent in a day. Follow us for the latest crypto news and updates regarding the Shiba Inu cryptocurrency.