Shiba Inu Outlines Strategic Plan for 2024

Shiba Inu has unveiled its 2024 goal.

The Shiba Inu ecosystem team has taken to the X platform to unveil its goal for the year 2024.

In an X post yesterday, the team behind the crypto project stated that its 2024 goal is to “Make Shibarium great.” However, the tweet did not highlight how the team plans to achieve this goal.

2024: make Shibarium great. pic.twitter.com/S7kc0HpvSx

— Shib (@Shibtoken) January 4, 2024

Shibarium Groundbreaking Feats

For context, Shibarium is Shiba Inu’s official Layer-2 blockchain platform that officially launched on the mainnet on August 16, 2023. The L2 scaling solution initially had a slow start and has left many stunned with its impressive stats.

Shibarium has processed over 255 million transactions in less than five months, with nearly 2.5 million blocks minted. Additionally, a total of 1,326,827 (1.32 million) wallet addresses have interacted with the network since its mainnet launch.

Shibarium has continued to process an average of 5M daily transactions since December 2. Interestingly, Shibarium gas fees skyrocketed amid the surge in transaction volume.

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Consequently, the team initiated the first-ever Shibarium-powered burn by incinerating over 8.2 billion SHIB tokens. So far, over 33 billion SHIB tokens have been incinerated using only a portion of Shibarium gas fees.

Potential Moves to Make Shibarium Great

Despite Shibarium’s successes in the past month, the team behind the Shiba Inu ecosystem has made it a priority to make the L2 blockchain great this year.

One of the features the team plans to introduce is a burn portal that will automatically burn SHIB under predefined rules. As reported earlier, the automated Shibarium burn system will commence this month.

In addition, the team also plans to enhance Shibarium scalability in the next hard fork. It bears mentioning that Shibarium is capable of processing up to 200 transactions per second. Last month, top developer Kaal Dhairya revealed that the next hard fork will increase Shibarium’s block capacity to enable it to process more transactions.

Recall that Shibarium completed its first hard fork in early December. The upgrade enhanced burns and also added support for a multiple-token burn model. At press time, the team has yet to disclose a date for the next hard fork.