• Lead developer Shytoshi Kusama has confirmed that billions of SHIB will be burned with the launch of Shibarium.
• Whale Alert recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins.
• SHIB is currently trading at $0.00001153 and is down 0.43 percent.
The crypto community is abuzz with news of the upcoming launch of Shibarium, the Layer-2 scalability network for the Shiba Inu (SHIB) memecoin. Lead developer Shytoshi Kusama has just confirmed that billions of SHIB coins will be burned with the launch of Shibarium. This news has sent a wave of optimism among the Shiba Inu community, who are now eagerly awaiting the launch of the new Layer-2 platform.
The SHIB price has seen a modest uptick following the confirmation, however, the coin’s value is still far from its all-time high of $0.00001273, which it had reached last week. Currently, SHIB is trading hands at $0.00001153 and is down 0.43 percent.
The launch of Shibarium was first teased by Kusama in early January, and the crypto tracking platform Whale Alert recently detected a single transfer of 3,312,307,240,798 SHIB coins between anonymous crypto addresses. This is the largest transfer of SHIB coins ever recorded and has added fuel to the speculation that the launch of the Layer-2 platform is imminent.
Following the announcement from Kusama, the Shiba Inu community is now hoping that the massive burn of SHIB coins will lead to an increase in the coin’s price. If successful, the SHIB price could reach its all-time high and possibly even breach the $0.01 mark.
With the launch of Shibarium, Shiba Inu has the potential to become one of the most popular and valuable memecoins in the crypto space. However, it remains to be seen how the market will react to the upcoming launch and the subsequent burning of SHIB coins. For now, the Shiba Inu community is eagerly awaiting the launch of Shibarium and the burning of billions of SHIB coins.