Shiba Inu Wallets Hit 1 Million Mark Setting New Benchmarks

Shibarium Inu has emerged as one of the most popular meme tokens. In a very short duration, it has acquired a voluminous market cap of $4,608,619,771. The token emerges as one of the most dominant meme tokens with so many salient attributes. Therefore, it has become a popular choice among the crypto investors. Recently, it added another triumph to its list of accomplishments.

Shiba Inu Accomplished A New Feat

Recently, Shiba Inu hit the 1 Million mark in terms of amount of wallets. As the word got out, the users got more excited to buy the tokens. Also, many of them started to burn them to make the most of this event. Reportedly, the protocol added 300,000 wallets overnight. Moreover, the count of transactions reached 773, 429 soon after that.

Besides the number, Shibarium did a great job of maintaining a massive circulating supply. The team did the job of setting aside a gas fee for conversion and burning. They also shared a number on the burning of tokens. According to the team, they removed 43,163,5177 SHIB in total.

As per the website, the burn rate has reached 71%. The number is significant because, in the month of July, they burned just 2 Billion SHIB. However, the number of wallets didn’t hit a Million back then. Also, at this time, one might be interested in knowing Shiba Inu’s journey so far.

Shiba Inu’s Journey So Far

Shiba Inu is a decentralized cryptocurrency launched in August 2020. An anonymous person rolled it out while using the pseudonym “Ryoshi”. Inspired by the Japanese dog breed, it became a popular meme token. However, the coin had its share of controversies. Many people blamed Shiba for siding with “whales”. They also accused it of spreading a fear of missing out (FOMO).

Back then, it was launched as a competitor to “Dogecoin”. And soon after launch, it received support from Ethereum co-founder Vitalik Buterin. He made a crypto relief fund donation with 50 trillion SHIB tokens. In October 2021. Shiba experienced a significant rise in its price.

Shiba Outflanked Dogecoin & THORChain

Lately, Shiba Inu outperformed Dogecoin and THORChain in terms of lending. Although Shiba faced some technical issues initially, it overcame them easily. As a result, the protocol registered a spike in its wallet registration. Its leader Shytoshi Kusama said that the ecosystem got over the issues with technical supervision.

The current advancements help the ecosystem build a resistance level of over $0.0000100. And while taking numbers higher, it’s also beefing up its mechanics. Kusama also announced that Shiba will get an upgrade soon. According to the dev team, it helps in keeping the bad actors at bay.

Also, it’ll prevent instances like stealing of funds and duplicity. Furthermore, the platform suggests that people beware of impersonators. Notably, the leading meme coin is taking all the right steps. Consequently, it’s hitting all the right notes and getting more popular. The markets are excited about it and investors are hoping even better things to happen.