The Shiba Inu (SHIB) token had many remarkable accomplishments in November, inclusive of token burn, THE price hike and emergence of core system milestones. Shibburns report pointed out that in the course of the month, about 3,162,301,655 SHIB tokens were eliminated in 167 settled transactions.
Although this was a 48,45% decrease to the monthly burn rate it demonstrated the company’s persistence in token supply reduction. Where price is concerned, SHIB increased by 50% in November to close the month at $0.00003, a price range not seen since March.
Explorers’ favorable attitude toward the further growth of Shiba Inu’s ecosystem boosted this rally, including the Shibarium, a Layer-2 scaling solution. It has begun December in a positive note for SHIB, and SHIB increased by an additional 16% on the first day of December.
Shiba Inu Achieves 500M Transactions and $9.92M TVL Milestone
Shibarium, which was to launch a crucial upgrade on November 29 as stated by developer Kaal Dhairya, received a security increment of the bridge of the Shibarium with the boost in the functionality of the network.
Furthermore, you can now use the Shibarium Token Asset Repository, which is launched to add images and metadata by the Ethereum Sepolia and Shibarium Puppynet users to help make the assets more visible in the ecosystem. Shibarium’s accomplishments include another 500 million transactional milestone, and network TVL, which grew to $9.92 million, up 13.26% within a day.
The future is looking even more likely with Shibarium’s hard fork due early next week now in sight. This update is expected to solve scalability issues, increase the speed of transactions and improve the overall performance in the network and hence continues to remains a key part of the SHIBA INU Ecosystem.
Decidedly, when we turn the calendar to December, the prospects for SHIB remain positive. Thanks to the further development of ecosystem and great market demand, Shiba Inu is still the topic for many investors and admirers this holiday season at the forefront of cryptocurrencies.
