Using the X/Twitter network, official Shiba Inu marketing expert @LucieSHIB has announced the launch of a revolutionary new method for burning Shiba Inu coins that is being developed on the Shibarium blockchain.
Meanwhile, transaction activity on Shibarium is still significantly up, and the price of SHIB has increased dramatically over the past 24 hours.
https://x.com/LucieSHIB/status/1749861406147596614?s=20
“New era in SHIB burns” coming
Citing an article from this week’s newly issued SHIB Magazine, Lucie declared that SHIB burns had entered a new age. According to the story, Shibarium is going to provide a revolutionary method for burning Shiba Inu meme currencies, moving them to blockchain wallets that cannot be spent, in an effort to lower the amount of these well-liked canine-themed assets that are now in circulation.
According to the article, the previously described technique is “designed to reduce token supply strategically” with the aim of enhancing SHIB’s potential value and advantages inside the Shibarium ecosystem.
“Numerous upgrades” during burn mechanism tests
This innovative burn method will be tested on the Shibarium testnet, also known as Puppynet. Instead of operating in manual mode like it did previously, it will now operate automatically.
The SHIB team will be making many improvements to “enhance efficiency and reliability” while testing the new mechanism. The report highlights that it will only be deployed on the Shibarium mainnet after that. “By operating according to predetermined rules, the automated burn process will be more transparent and efficient.”
In a blog post published at the beginning of December, Shiba Inu first revealed this move.
In the meantime, the on-chain activity of the Shibarium layer-2 solution keeps increasing significantly. The overall number of transactions has increased by almost six million in the last day, reaching 306,140,448 after surpassing the 300,000,000 historic mark on Tuesday.
Wallet addresses that are connected are increasing, although at a considerably slower rate. It is now at 1,344,018.
The quantity of transactions each day is still falling. This number indicates 2.07 million daily transfers as of Tuesday at the time of writing. This is a decrease of over three times the peak of 7.52 million recorded on December 29.
