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HomeNewsShibarium Surpasses 14 Million Wallets and Hits All-Time High, While Whales Continue...

Shibarium Surpasses 14 Million Wallets and Hits All-Time High, While Whales Continue to Grab Billions of SHIB

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  • Shibarium beta has recorded a new all-time high related to utility and adoption, while big whales continue to scoop up SHIB.
  • The number of wallets connected to Shibarium has surpassed 14 million.

Shibarium Registers New Inflow of Users, Hits Biggest Milestone Since Launch

Shibarium wallet number grows Recent data shared by Puppyscan shows that the number of wallets connected to Shibarium has surpassed 14 million, now standing at 14,061,562. However, the growth has been smaller than earlier this week, with around 100,000 new wallets added since Thursday.

Despite this, Shibarium has hit a new all-time high related to utility and adoption. One Twitter user claimed to have created around 9 million wallets for Shibarium to stress test the Layer 2 network. The community expects 500 billion SHIB burned per year @ShibBPP, a major SHIB-focused Twitter account, tweeted that they would be impressed if Shibarium were able to burn at least 500 billion Shiba Inu tokens in one year. 

Previously, expectations stood higher, at trillions of Shiba Inu per week or month. A portion of the transaction fees paid in BONE governance token now get converted into Shiba Inu and sent to dead wallets, which are burned, thus reducing the circulating supply. In the past 24 hours, the combined efforts of the SHIB army helped to remove 27,575,359 Shiba Inu.

Whale grabbing hundreds of billions of SHIB

Despite efforts to reduce the circulating supply of SHIB, whales continue to buy more. Prominent wallet tracker WhaleStats reported that investor “BlueWhale0073” grabbed more than 311 billion Shiba Inu in two transactions.

This whale is ranked 254th among the top 500 whales on the Ethereum chain. Currently, the wallet contains zero Shiba Inu as it, as usual, sold these meme coins almost immediately after buying them. As of writing, Shiba Inu is changing hands at $0.00001063, showing a price drop of nearly 2.5% over the past 24 hours, according to data shared by CoinMarketCap analytics service.

In summary, Shibarium has registered a new all-time high in utility and adoption with over 14 million connected wallets. The community hopes Shibarium will be able to burn at least 500 billion Shiba Inu tokens per year. However, whales like “BlueWhale0073” continue to purchase hundreds of billions of SHIB, despite efforts to reduce the circulating supply.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628
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