{"id":20429,"date":"2024-07-02T13:41:39","date_gmt":"2024-07-02T13:41:39","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=20429"},"modified":"2026-07-14T15:51:39","modified_gmt":"2026-07-14T15:51:39","slug":"shiba-inu-shib-hits-a-new-major-milestone-details","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/shiba-inu-shib-hits-a-new-major-milestone-details\/","title":{"rendered":"Shiba Inu (SHIB) Hits a New Major Milestone: Details"},"content":{"rendered":"<p><em><strong>Shibarium and SHIB\u2019s burning mechanism made the headlines today (July 1): here\u2019s why.<\/strong><\/em><\/p>\n<ul>\n<li>Shiba Inu\u2019s layer-2 scaling solution, Shibarium, keeps progressing with total transactions nearing 420 million and wallet addresses exceeding 1.8 million, while daily transactions rose to over 14,000.<\/li>\n<li>The SHIB burn rate surged by more than 4,000% in the past 24 hours, removing around 300 million tokens from circulation.<\/li>\n<\/ul>\n<h2>Shiba Inu\u2019s Latest Advancement<\/h2>\n<p>The second-largest meme coin in terms of total market capitalization \u2013 Shiba Inu (SHIB) \u2013 made waves today (July 1) thanks to the further development of its layer-2 scaling solution \u2013 Shibarium.<\/p>\n<p>Data shows that the total number of blocks processed on the network surpassed the 5.5 million milestone. Additionally, total transactions neared the 420 million mark, while wallet addresses exceeded 1.8 million.<\/p>\n<p>Daily transactions on the protocol are also on the rise, currently standing at over 14,000. This represents a 100% increase compared to the figure observed the day before.<\/p>\n<p>Shibarium is an L2 blockchain solution developed by the Shiba Inu team, aimed at fostering the development of the meme coin project. It officially went live in August last year, and its main purposes include lowering transaction costs, improving speed, and enhancing scalability. Those curious to learn more about the protocol can do so by watching our dedicated video below:<\/p>\n<p><iframe loading=\"lazy\" title=\"What Is Shibarium? Everything You NEED To Know About Shiba Inu&#039;s Blockchain\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/rYzZWZqXspo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Burn Rate Goes Through the Roof<\/h2>\n<p>Another important Shiba Inu-related development as of late is the resurgence of the burning mechanism. It exploded by over 4,000% in the past 24 hours, resulting in more than 300 million tokens being removed from circulation.<\/p>\n<p>The program\u2019s ultimate goal is to reduce the tremendous circulating supply of the coin, making it scarcer and potentially more valuable in time.<\/p>\n<p>As CryptoPotato reported earlier today, SHIB is among the numerous meme coins situated well in the green on a daily scale. It is currently the 14th biggest cryptocurrency, with a market capitalization of over $10 billion.<\/p>\n<p>Some indicators suggest that SHIB could be headed for a further uptrend in the near future. The crypto market intelligence platform \u2013 Santiment \u2013 recently stated that the meme coins is one of the most underbought digital assets.<\/p>\n<p>This condition might be interpreted by traders and investors as a potential buying opportunity and could be followed by a price uptick.<\/p>\n<p>Source: www.cryptopotato.com<\/p>\n<p><!-- related-seo --><\/p>\n<div class=\"related-seo\">\n<h3>Related articles<\/h3>\n<ul>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/shib-price-tanks-but-this-metric-soars-by-2800\/\">SHIB Price Tanks but This Metric Soars by 2800%<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/important-shiba-inu-metric-soars-by-100-amid-shib-price-rally-details\/\">Important Shiba Inu Metric Soars by 100% Amid SHIB Price Rally: Details<\/a><\/li>\n<li><a href=\"https:\/\/buycrypt.com\/blog\/en\/top-meme-coins-to-put-on-your-watch-list-in-h2-2024\/\">Top Meme Coins to Put on Your Watch List in H2, 2024<\/a><\/li>\n<\/ul>\n<\/div>\n<p><!-- \/related-seo --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHIB hits a significant milestone with increased transactions and token burn rates. Shibarium scaling shows strong progress.<\/p>\n","protected":false},"author":1,"featured_media":20452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"Shiba Inu (SHIB) Hits New Milestone in 2024","rank_math_description":"Discover how SHIB reached a new milestone with rising transactions and token burns. Read about Shibarium's growth and SHIB's future.","rank_math_focus_keyword":"Shiba Inu SHIB milestone","_forpost_external_id":"","_seorun_article_id":"","footnotes":""},"categories":[433,369],"tags":[11800,9730,9532,12061,10706],"class_list":["post-20429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kriptovalyuty-en","category-news-en","tag-cryptocurrency","tag-shib","tag-shiba-inu","tag-shibarium","tag-token-burn","resize-featured-image"],"lang":"en","translations":{"en":20429,"uk":20430,"ru":20431},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/20429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/comments?post=20429"}],"version-history":[{"count":3,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/20429\/revisions"}],"predecessor-version":[{"id":47656,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/posts\/20429\/revisions\/47656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media\/20452"}],"wp:attachment":[{"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/media?parent=20429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/categories?post=20429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buycrypt.com\/blog\/wp-json\/wp\/v2\/tags?post=20429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}