• Tangem contributed 344M in burns, which pushed the SHIB Burn tracker past the 1 billion mark.
• Launching its Shibarium L2 mainnet at ETHToronto conference, Shiba Inu’s price has decoupled from Bitcoin and is trading at $0.00001048.
• Tangem released a YouTube tutorial to help new users safely access their crypto funds on the app.
Tangem Contributes to SHIB Burning
Swiss blockchain equipment manufacturer Tangem contributed 344M in burns that helped push the SHIB Burn tracker past the 1 billion mark, equivalent to over $10,000. The Shiba Inu burn tracker Shibburn reported 1,164,755,557 canine tokens set ablaze in 217 transactions in the last seven days with 80% of those coming on August 12th, 2023. The hottest day for SHIB Burn was July 10th, 2023 when Akai Token sent over 803 million tokens to an unretrievable wallet.
Shibarium L2 Mainnet Launch
The highly-anticipated Shibarium L2 mainnet is slated for launch this week at ETHToronto conference that will likely host its introduction. This development has also skyrocketed the price of $BONE -the gas fee and governance voting token for Shiba Inu’s Layer-2 solution. While it aims to detach $SHIB from Ethereum (ETH), its market price seems to have reached a decoupling point from Bitcoin with on-chain metrics pointing to a negative -0.41 price correlation with BTC.
Tangem Tutorial
Tangem also released a YouTube tutorial for new users showing how to safely access their crypto funds on the app as part of this burning campaign fueled by them. Currently it is changing hands at $0.00001048 with 16.9% gains achieved in 7 days crossing past Litecoin (LTC) in crypto charts and claiming over $6bn market cap due to continuous momentum enjoyed by it.
Reactions On Social Media
The reactions on social media were generally positive such as one user commenting ‘Such an amazing wallet! Thank you!’ on Twitter regarding this launch being backed by Swiss blockchain equipment manufacturer Tangem providing card-shaped cold storage wallets for SHIB Army..
Conclusion
Shiba Inu’s Layer 2 scaling solution offers many potential benefits including potentially detaching itself from Ethereum (ETH). Furthermore, its burning campaigns are also gathering steam and crossing major milestones such as reaching 1 billion mark with positive reactions being seen across social media platforms encouraging more people towards using this Layer 2 scaling solution offered by Shiba Inu team!
