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Shibarium’s 5-second transactions and $17M staked BONE could spark a Shiba Inu breakout

Rene Peters

August 26, 2023

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Shibarium stands out as one of the fastest L2 blockchains in the industry. With an average block time of just 5 seconds, it’s no wonder that the crypto community is buzzing about its potential.

SHIB GUY, a prominent figure in the crypto community, recently took to Twitter to highlight Shibarium’s impressive speed. He tweeted, “Shibarium has an average block time of only 5 seconds, making it one of the fastest L2 blockchains in the crypto industry!” Such rapid transaction times are crucial in digital currencies, where speed often equates to efficiency and user satisfaction.

SHIB’s Potential Breakout

SHIB KNIGHT, another influential voice in the crypto sphere, hinted at a potential breakout for the SHIB token. In a recent tweet, he mentioned, “SHIB potential target. It breaks the downtrend and follows the formation. Let’s see.” This suggests the token might be on the verge of a significant uptrend, exciting many in the ShibArmy.

Shibburn, a platform dedicated to tracking the number of SHIB tokens burned, reported that a whopping $342,020,540 SHIB tokens were burned in the past 24 hours from 18 transactions. For those unfamiliar with the concept, token burning is a strategy used by crypto projects to reduce the number of tokens in circulation, potentially increasing scarcity and value.

Bone ShibaSwap: Staking and Earning

Bone ShibaSwap, another key player in the Shiba ecosystem, announced that nearly 17 million $bone tokens are now staked in Shibarium. This showcases the trust and confidence users have in the platform and the potential rewards they can reap. With such a significant amount staked, users can expect to generate substantial returns, especially given the platform’s promise of a 450% yield.

The Shiba ecosystem continues to grow and evolve, with Shibarium leading the charge in speed and efficiency. As more tokens get burned and staked, and $SHIB potentially breaks its downtrend, the future looks bright for the ShibArmy.

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