Recommended
Shibarium News: Shiba Inu Burns 1.9 Billion SHIB; Is Shibarium Public Beta Launching?
2023/03/10By: C, Fiona
As the Shibarium Public Beta launch potentially occurred over the previous two hours, around 1.91 quintillion Shiba Inu have been sacrificed.
Recently, Shiba Inu have been experiencing an abnormal amount of burning. According to information gathered over the past two hours on Etherscan.io, the Contract Maker known as “Shiba Inu: Deployer 2” has carried out multiple transactions, permanently eradicating 1,917,855,961 SHIB. At the current price of SHIB, this comes to almost $21,000.
![Shiba Inu Deployer Burned 191 Billion SHIB](https://thecryptobasic.com/wp-content/uploads/2023/03/Shiba-Inu-Deployer-Burned-191-Billion-SHIB-600x252.png.webp)
This enormous expenditure has not depleted the contract wallet’s supply of SHIB, which currently stands at 288,342,406,555 (288.34B) and is worth $3,168,883 ($3.16M). This raises the possibility that further fires will break out soon.
The contract wallet’s massive burning activity is responsible for today’s 26462.38% increase in the Shiba Inu burn rate.
This unexpected turn of events has sparked debate about the fire’s motivation. Several people believe it has something to do with the soon-to-be-released Shibarium Public Beta testnet.
It is anticipated that Shibarium Beta will include a built-in Shiba Inu burn feature, burning a sizable chunk of SHIB with each transaction processed by the network. The Shibarium Public Beta testnet, as recently announced by the SHIB team, will be released this week.
At the time of writing, one Shiba Inu token can be purchased for $0.00001098, an increase of 0.76% over the previous day, with a 24-hour trading volume of $445,633,606.
Shibarium Launch to Influence SHIB Price
The forthcoming release of Shibarium may be contributing to the heightened volatility of SHIB. Shiba Inu’s Shibarium is a decentralized exchange (DEX) platform meant to rival the likes of Uniswap and PancakeSwap.
The only *official* dex of Shibarium is ShibaSwap. Projects claiming otherwise are probably scamming. Some people while working with Shib unethically leverage Shib’s name and contacts for personal gains and listings, people and exchanges please do DYOR
— Kaal (@kaaldhairya) March 4, 2023
Yet, administrators and creators of the networks involved have issued a warning about the rise of scams with Shibarium. Caution is advised, and the group suggests that the public wait for official reports before making any decisions. These alerts follow the discovery of several Shibarium beta or scam links, which caused financial losses for certain community members.
The official Shiba Inu community Twitter account reports that members are counting down the days before the March 11 opening of the Shibarium exchange. The value of SHIB is anticipated to rise if Shibarium meets or exceeds expectations.
![](/mask.png)
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
- Terms & Agreement
Quick Links
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved
Comments
Leave a comment
Your email address will not be published. Required fields are marked with an asterisk (*).
Comment*
Name*
Email address*