Shiba Inu (SHIB) Team Declares 2024 as the Year to Make Shibarium Great

The Shiba Inu (SHIB) ecosystem has laid out its ambitious plan for the year ahead, with one bold goal at the forefront.

On X, the official Shiba Inu account posted that 2024 was the time to “make Shibarium great.” The team’s declaration left many eager to know how they intend to propel their official Layer-2 blockchain platform to new heights.

The Journey So Far

Launched in August 2023, Shibarium has witnessed a remarkable trajectory in its short lifespan. Despite initial hesitations, it has quietly amassed impressive stats processing more than 255 million transactions in under five months.

So far, almost 2.5 million blocks have been minted, and the community has remained active as over 1.3 million users have interacted with Shibarium since its launch.

However, this meteoric rise also brought a rise in gas fees. Addressing this critical issue, the Shiba Inu team took decisive action, implementing the first-ever Shibarium-powered burn.

More than 8.2 billion SHIB were incinerated, setting the stage for a continuous deflationary mechanism fueled by a portion of Shibarium gas fees.

Shibburn shows that over 410 trillion SHIB have been burned from the total supply, and over 33 billion SHIB have been incinerated by Shibarium.

What’s Next for Shibarium?

There are multiple paths the SHIB team can take to make Shibarium great in 2024.

Automated Burn Portal: The SHIB team is already transitioning to automated SHIB burns. Introducing a smart system that automatically burns SHIB based on predefined criteria, further accelerating token scarcity.

Enhanced Scalability: The upcoming hard fork will unlock Shibarium’s true potential by increasing block capacity and transaction processing power. Top developer Kaal Dhairya hinted at exceeding the current 200 transactions per second threshold, paving the way for even greater adoption.

Continuous Optimizations: Following the successful first hard fork in December, which improved burns and enabled multiple-token burning, the team is preparing for another round of upgrades. While the date is yet to be announced, their dedication to refining Shibarium is evident.

Shiba Inu’s 2024 vision goes beyond mere numbers and technical advancements. It’s about solidifying Shibarium as a thriving ecosystem that empowers developers, attracts innovative projects, and fuels a flourishing community.

The development team is dedicated to Shibarium’s success, as seen in Shytoshi Kusama’s recent action, where he inserted Shibarium into a Coingecko poll about the best blockchain to trade on. In 2024, the Shiba Inu team is set to propel Shibarium to become a premier force in the crypto market.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.