• Shibarium Beta reached a milestone with over 140K NFTs minted using just 800 BONE in gas fees.
• Shiba Inu launched ShibDev and DAO to boost community involvement and developer engagement.

Shiba Inu has once again demonstrated the strength and potential of its ecosystem with a big step forward in the development of Shibarium. Lucie, Marketing Lead at Shiba Inu, recently tweeted about this accomplishment, reporting that over 140,000 NFTs were minted during the Shibarium Beta period, all while spending only 800 BONE on gas fees.

This demonstrates not only the strength of Shibarium but also its cost-effectiveness, which is critical for any large-scale DeFi operation.

Shibarium’s Scalability and Low Fees Empower Developers and Users 

The fact that such a large quantity of NFTs were minted at such cheap gas expenses demonstrates Shibarium’s scalability. Lucie’s statement emphasizes the platform’s ability to manage massive transaction volumes while keeping low fees, making it suitable for producers and developers who want to build without incurring prohibitive costs.

Shibarium’s cheap gas fees are especially crucial during this beta phase, since gas costs have been totally funded, making it easier for users to join and mint NFTs without incurring any upfront charges.

Furthermore, Shiba Inu has an impressive on-chain presence, with over 1.4 million SHIB holders. This big user base hasn’t even fully tapped into the Shibarium network yet, so as more people engage with the platform, its growth potential may expand even more.

This suggests that Shibarium has the potential to be a game changer in the Shiba Inu ecosystem, opening up new prospects for NFT and DeFi activities.

Previously, CNF noted that the team developed a DAO, which grants its holders voting rights and encourages additional community involvement. Another significant step forward is the launch of ShibDev, a platform aimed to aid developers from many professions.

ShibDev offers a full set of tools, including API management, node access, and data feeds, all of which are essential for supporting innovation and development in the Shiba Inu ecosystem.

SHIB Burn Rate Soars as Community Focuses on Reducing Supply

Meanwhile, the Shibburn platform recently announced that 262,936,508 SHIB tokens were burned over the last 24 hours, signifying an incredible 11,765.36% rise in the burn rate.

This increase in SHIB burning demonstrates the community’s commitment to reducing the circulating supply, which is a critical factor in enhancing scarcity and potentially increasing the token’s value over time.

At the time of writing, SHIB is trading at about $0.00001284, down 3.51% over the last 24 hours on a daily trading volume of $208.92 million.