• Lead developer Shytoshi Kusama recently confirmed that trillions of SHIB coins will be burnt with the release of Layer 2 platform Shibarium.
• Whale Alert recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins.
• Currently, Shiba Inu (SHIB) is trading at $0.00001153, 0.43 percent down from its last week’s high.

The Shiba Inu community has been eagerly awaiting the launch of its Layer-2 scalability network Shibarium and their anticipation has been boosted by the recent confirmation from lead developer Shytoshi Kusama that trillions of SHIB coins will be burned with the release. This news comes just as the crypto tracking platform Whale Alert detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins between anonymous crypto addresses.

The crypto market has been in a state of flux for the past few weeks and Shiba Inu (SHIB) has been no exception. SHIB is currently trading at $0.00001153, 0.43 percent down from its last week’s high of $0.00001273 when the price had jumped 20 percent in a day. Unfortunately, the one thing that’s holding up Shiba Inu from performing well is the massive supply and the decline in the burn rate of the memecoin.

If the Shibarium platform is successful, it would mean that SHIB tokens will not only be burned, but also have additional use cases. This could help Shiba Inu reach its goal of becoming a top 10 cryptocurrency by market cap. The beta launch of Shibarium has been teased multiple times and is expected very soon. Shytoshi Kusama has been working tirelessly to deliver a secure and robust platform to the Shiba Inu community.

However, it is important to note that the success of Shibarium is not certain and investors should exercise caution when investing in any cryptocurrency. As always, it is important to do your own research and make sure you understand the market before investing. With that being said, the launch of Shibarium could be the catalyst that helps Shiba Inu reach its goal of becoming a top 10 cryptocurrency.