• Shiba Inu’s (SHIB) Layer-2 solution, Shibarium, is currently in beta phase and will be supported by Atomic Wallet and Ledger.
• The SHIB burn rate has increased by 28385.44% in the last 24 hours.
• Shiba Inu’s (SHIB) market price has remained relatively static in the last 24 hours.
The DeFi space is abuzz with the news of Shiba Inu’s (SHIB) upcoming Layer-2 solution, Shibarium. Ledger, the popular hardware crypto wallet manufacturer, recently announced their support for Shibarium and included it in their roadmap for 2023. Atomic Wallet, another major player in DeFi, also declared their support for the Layer-2 solution, providing over five million users worldwide with a self-custodial wallet.
The news of the Layer-2 solution has led to a significant increase in SHIB’s burn rate. In the past 24 hours, a total of 27,666,615 SHIB tokens have been burned, leading to a 28385.44% increase in the burn rate. This increase in the burn rate, however, has not been reflected in Shiba Inu’s (SHIB) market price, which has remained relatively static in the last 24 hours. At the time of writing, the canine coin is changing hands at $0.00001160, according to CoinGecko. In the last two weeks, SHIB has seen an increase of 22.3% and has restored the fundamental resistance level of $0.00001.
The developments in relation to Shibarium continue to be highly anticipated by the SHIB Army. With support from Atomic Wallet and Ledger, the Layer-2 solution promises to bring a new wave of innovation to the DeFi space. Ultimately, only time will tell how the SHIB burn rate and market price will be affected by the implementation of Shibarium.