Shiba

Token

Strong

Shiba Inu

<ul>
 <li>The SHIBARMY community wants Binance to list Shibarium network and $BONE token.</li>
</ul>
<ul>
 <li>Shibarium Network’s recent upgrade will burn 70% of transaction fees in SHIB tokens.</li>
</ul>
The SHIBARMY community is rallying for Binance to include the Shibarium network and the $BONE token on its platform. A <a href="https://twitter.com/ShibSpain/status/1821709752495173778" target="_blank" rel="noopener noreferrer nofollow">recent appeal</a> by the user Shib Spain highlights Shibarium as a leading Layer 2 (L2) solution known for its advanced technology, efficiency, and low transaction fees.
<a href="https://www.crypto-news-flash.com/shiba-inu-shibarium-upgrade-major-hard-fork-to-enhance-token-burn-mechanism/" target="_blank" rel="noopener noreferrer nofollow">A recent advancement&nbsp;</a>in blockchain technology is the Shibarium network,&nbsp;which has attracted much attention due to its secure and fast transaction processing.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Hey <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@binance</a> you can consider to support and add <a href="https://twitter.com/hashtag/Shibarium?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Shibarium</a> Network, and listing <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BONE</a> token on your platform, Shibarium is a top L2 Network in technology, safe, fast transactions and cheap fees. And it is supported by a great and friendly community, <a href="https://twitter.com/hashtag/SHIBARMY?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIBARMY</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2728.png" alt="✨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/OFfm3OoglU" rel="noopener noreferrer nofollow">pic.twitter.com/OFfm3OoglU</a>
 — Shib Spain (@ShibSpain) <a href="https://twitter.com/ShibSpain/status/1821709752495173778?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 9, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Shibarium is cheap and secure regarding network transactions, so it is popular among many people. The network is an Ethereum mainnet rival, which offers lower costs per transaction and increased transaction throughput, which is why it is considered one of the prominent players in the blockchain field. Besides Shibarium, the $BONE token is another essential part of the SHIB ecosystem and the Shiba Inu family.
<h3 id="strong-shib-burn-rate-skyrockets-reducing-token-supply-strong">SHIB Burn Rate Skyrockets, Reducing Token Supply&nbsp;</h3>
In the last 24 hours, Shiba Inu’s burn rate <a href="https://x.com/shibburn/status/1821788547512160376" target="_blank" rel="noopener noreferrer nofollow">has soared </a>dramatically. The burn rate increased by almost 140,000%, with around 105 million tokens transferred to a zero address. This is quite significant given that the 114.7 million SHIB tokens were burned within the last week only.
Although the USD value of the burnt tokens is negligible, continuous burning may help elevate the price of SHIB. The program is designed to reduce the extremely high supply of SHIB, which could lead to an increase in its value if demand does not fall or even rise.&nbsp;
The Shiba Inu team<a href="https://www.crypto-news-flash.com/shiba-inu-shib-burn-rate-sees-significant-300-increase/" target="_blank" rel="noopener noreferrer nofollow"> has already burned</a> more than 41% of the total supply, about 410.7 trillion tokens. This then brings down the circulation supply to approximately 583 trillion SHIB.&nbsp;
SHIB has been up 6% over the past 24 hours, with the current value of one SHIB being $0. 00001411. This is an increase of 30% from the recent low observed in the crypto market on August 5.&nbsp;
<h3 id="strong-shib-ecosystem-expands-beyond-core-token-strong">SHIB Ecosystem Expands Beyond Core Token</h3>
Apart from the increase in the burn rate, other Shiba Inu metrics are also looking up. Data from <a href="https://app.intotheblock.com/coin/SHIB" target="_blank" rel="noopener noreferrer nofollow">IntoTheBlock </a>shows that transactions above $100,000 per day have increased by 52% to more than $20 million. There has also been a slight growth in the daily active SHIB addresses.&nbsp;
These positive trends indicate increasing demand and <a href="https://www.crypto-news-flash.com/shiba-inu-petition-surpasses-1000-votes-community-aims-to-push-shib-price-to-0-00001-with-binance-burn-request/" target="_blank" rel="noopener noreferrer nofollow">higher user engagement</a><a href="https://www.crypto-news-flash.com/shiba-inu-petition-surpasses-1000-votes-community-aims-to-push-shib-price-to-0-00001-with-binance-burn-request/" target="_blank" rel="noopener noreferrer nofollow">,</a> potentially leading&nbsp;to price appreciation. At present, about 47% of SHIB investors are experiencing paper gains, while over 50% are in the red. In the bull run that occurred in mid-March, around 63% of the investors were in the green.&nbsp;
On August 9, Shibarium Network introduced a significant upgrade to its ecosystem: the Bor version v1. 1. 2-bone. This most recent update aims to improve the token burning feature, which is expected to affect the Shiba Inu (SHIB) ecosystem greatly. The upgrade is expected to enhance the effectiveness of how transaction fees are incorporated into the deflation model of the SHIB token, which in turn, will produce more anticipation from the community.&nbsp;

SHIBARMY Calls for Binance to Add Shibarium Network and BONE: Leading L2 Technology, Cost-Effective Transactions, and Strong Community Backi...

Table of Contents

Crypto News Flash

Other articles published on Aug 10, 2024

SEC Accepted Its Defeat, Won’t Challenge Ripple XRP Case Ruling, But!!!

Bitcoin ETF Options Face Setback as MIAX Withdraws Proposal

Top New Cryptocurrency to Buy Over Pepe (PEPE) in Summer 2024

Trader Says He is Not Selling Ripple (XRP) as the Crypto Targets $100, RCO Finance Follows Simila...

Tether CEO Paolo Ardoino Reveals Development He Claims Brings New Major Systemic Risks for the Ma...

Crypto Token Unlocks August 2024: Market Impact and Forecast

Join our free newsletter for daily crypto updates!