Shibburn, the leading SHIB burn tracker, has revealed some astonishing figures. According to their latest update, an unprecedented 15,369,335,177 tokens were torched during the entire month of May, marking a significant milestone for the cryptocurrency community.
This massive burn operation took place through a total of 191 transactions, showcasing the immense scale of the token’s destruction.
The burning of these tokens signifies a strategic move by its enthusiasts and investors to reduce the overall token supply in circulation. This intentional reduction aims to create scarcity and drive up the value of the remaining tokens, benefiting those who continue to hold them.
The tracker’s report highlights the dedication and determination of the token community in its pursuit of reshaping the token’s market dynamics. By actively participating in these burn events, the token holders demonstrate their commitment to building a strong and vibrant ecosystem around cryptocurrency.
Nonetheless, the month of May has undeniably left an indelible mark on the community, solidifying its position as a driving force in the cryptocurrency world.
Shibarium Testnet Reaches New Milestones
Meanwhile, another latest update revealed that Shibarium, the highly anticipated layer-2 network for Shiba Inu, has achieved yet another significant milestone. Despite facing development delays, the Shibarium testnet, known as Puppynet, continues to make impressive progress.
According to data from puppyscan.shib.io, the Puppynet testnet has surpassed 15 million transactions and boasts over 16 million wallet addresses. Launched in March 2023, the testnet has experienced rapid growth in just two months.
With an average of 668,209 transactions per day, its testnet demonstrates robust capacity to handle a substantial volume of transactions and addresses.
However, it is important to note that the number of wallets does not necessarily represent individual users. In fact, the team had to employ a stress test script, creating approximately 9 million addresses to assess the network’s capability.
Lead developer Shytoshi Kusama has hinted at its potential debut sometime between June and August. Influential figure “Lucie” also suggests a launch within Q2-Q3 2023 but acknowledges the possibility of delays due to testing issues.
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