Does Jeremy Davincij15 still support ShibaInu? Here's what he says. $SHIB
In the middle of January, Shiba Inu developers announced in a blog post that thefor Ethereum chain would take place in beta soon. This pushed the price by around 20% within a couple of hours, lifting to the peak of $0.00001269.
This local high was last seen by traders in early November, right before the major FTX crypto exchange collapsed as its founder Sam Bankman-Fried attempted to bail out his trading firm, Alameda Research, using the funds of FTX users. This collapse of the trading company pushed Bitcoin down below $17,000 from the 21,200 area and SHIB fell back, adding another zero to its price.
Aside from the high speed of transactions, low fees and lack of congestion, Shibarium developers — including lead Shytoshi Kusama — promise that the Layer 2 protocol will include a mechanism that will allow for trillions of SHIB tokens to be burned, i.e., removed from the circulating supply. As for burning, it took off pretty well this year during the first week of January as over a hundred million coins were burned daily. However, later on, it again began fluctuating. Over the past 24 hours, the burn rate of SHIB rose by 28,850%. However, this figure is kind of deceptive, as merely 28.4 million meme coins were moved to unspendable wallets.
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