{"id":565633,"date":"2024-08-17T06:37:48","date_gmt":"2024-08-17T06:37:48","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=565633"},"modified":"2024-08-17T06:32:42","modified_gmt":"2024-08-17T06:32:42","slug":"shiba-inu-price-soars-1-as-shibtorch-goes-live-but-traders-are-buying-this-ethereum-l2-meme-coin-that-can-100x","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/shiba-inu-price-soars-1-as-shibtorch-goes-live-but-traders-are-buying-this-ethereum-l2-meme-coin-that-can-100x","title":{"rendered":"Shiba Inu Price Soars 1% As ShibTorch Goes Live, But Traders Are Buying This Ethereum L2 Meme Coin That Can 100X"},"content":{"rendered":"
The Shiba Inu price has soared 1% in the last 24 hours to trade at $0.00001326<\/a> as of 6:50 p.m. EST. on a 15% drop in trading volume to $164 million.<\/p>\n This price rise comes as the Shiba Inu burn portal dubbed ShibTorch goes live on the Shibarium Layer 2 scaling solution.<\/p>\n According to Lucie, the Marketing Executive of ShibTorch, the platform will focus on burning only the base fees paid by users. While these base fees will be sent to the burn contract, a secondary priority fee will be directed to validators.<\/p>\n 🔥 ShibTorch: Burning Tokens on Shibarium<\/p>\n In the crypto world, “burning” tokens means permanently removing them from circulation, typically by sending them to a burn address—a place where tokens go and can never be spent again.<\/p>\n 💡 Why Burn Tokens?<\/p>\n •Inflation Control: Helps… pic.twitter.com\/sSvP6Q9fjO<\/a><\/p>\n — 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 16, 2024<\/a><\/p><\/blockquote>\n\n