• Shibarium is set for a public launch after successful testing.
• Shibarium’s enhancements aim to ensure user safety and platform stability.

In a thrilling revelation, as tweeted by 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB), the much-awaited Shibarium (L2) update is running seamlessly in its private mode. The only step left for the team is to make this layer-2 platform public, ensuring that all funds remain protected. Additionally, some fortunate members have already received their bridged $BONE tokens.

Anticipation and Community Responses

Coin Telegraph shed light on the blockchain sphere’s growing anticipation surrounding the public introduction of Shibarium’s layer-2 version. The Shiba Inu team, through various communications, reassured the community about the smooth operations of the platform, which is now just awaiting its public release.

During its early testing phase, Shibarium caught the eyes of many with millions of wallets conducting over 22 million transactions in just four months. However, this rapid influx led to an initial hiccup, causing a brief halt in transactions. This temporary pause resulted in a dip in Shiba Inu’s price to $0.000008. The team, however, swiftly addressed this bottleneck, pointing out the unexpected surge in transaction volume as the root cause.

Safety Measures Upgraded

Post the initial challenges, the Shibarium team introduced enhanced security precautions, including rate limitations at the RPC level and an automatic server reset system. These modifications are geared towards preventing potential disruptions arising from sudden traffic spikes, thus offering users a consistent and reliable experience.

Momentum of SHIB Burns

Data from Etherscan.io illuminated that a whopping 410.35 trillion SHIB tokens, equivalent to $3.41 billion, are now securely locked in the official SHIB burn address, marking an impressive milestone for Shiba Inu. Blaze Token (BLZE), a mysterious wallet, Koyo Token (KOY), and MARSWAP (MSWAP) have earned their spots in the list of top SHIB burners, contributing significantly to this cause.

Recent tweets from Shibburn (@shibburn) further clarify its stand, emphasizing its independence as a company. The tweet stated,

“Guys, please don’t confuse Shibburn with other projects. Shibburn is an independent company. Also, the Shib Association won’t be part of Shibburn, but we will contribute to it.” This clarification reinforces Shibburn’s commitment to the Shiba Inu ecosystem.

In the recent 24 hours, the Shiba Inu community has sent 115.41 million SHIB to the dead wallet via multiple transactions. Although there’s a dip in the burn rate compared to the previous day, the commitment remains strong.

The Rise of Shib Association

Another exhilarating announcement comes from Shibburn, the official Shiba Inu burn tracker, which has unveiled the Shib Association. This fresh venture, focusing primarily on SHIB, aims to bring innovation to the Shiba Inu ecosystem and the newly inaugurated blockchain, Shibarium.

Shibarium’s Future Impact on SHIB’s Price

While Shiba Inu has firmly established itself in the meme-inspired crypto sector, the recent Shibarium launch on the mainnet has not yet made a discernible positive dent in SHIB’s price. Recent patterns indicate a possible “death cross” on its short-term chart, signaling potential price fluctuations. The future will reveal whether this is just a temporary phase or a more prolonged trend for Shiba Inu.