Shiba Inu Burns Millions, But Is It Enough?
Shiba Inu (SHIB) has been making headlines lately, with the meme coin burning 12 million coins in just 24 hours. This move has been touted by the community as a sign of progress for Shibarium, the upcoming Layer-2 scaling solution.
Shibarium Gets a Boost
Shibarium is set to be a game-changer for Shiba Inu, allowing for faster and cheaper transactions. The recent burn, along with the launch of ShibDev, a developer tool suite, points towards a growing ecosystem for SHIB.
Burning Questions Remain
While the burn is a positive development, it’s important to note that Shiba Inu is facing some challenges. The coin has seen a 58.8% drop in large transaction volume in the past 24 hours, and more than half of SHIB holders are currently in the red. Technical indicators also suggest a negative trend for the coin.
Looking Ahead
The future of Shiba Inu will be heavily influenced by the success of Shibarium. The upcoming launch of this Layer-2 solution could potentially bring about a significant shift for SHIB, but it remains to be seen whether it will be enough to overcome the current market headwinds.
You can learn more about Shiba Inu at the official website: [https://shibatoken.com/](https://shibatoken.com/)
You can also find more information about Shibarium at the official website: [https://www.shibarium.io/](https://www.shibarium.io/)
