Shiba Inu Burn Rate Soars by 4,000% in a Week, Shibarium Achieves Milestones

According to CryptoPotato, Shiba Inu's burn rate has surged by 4,000% in the past seven days, resulting in the removal of over 8.6 billion SHIB from circulation to potentially increase its scarcity and value. Despite the massive burn rate increase, SHIB's price saw only a minor change, with a 2% decrease in 24 hours but a 9% weekly gain.

Shiba Inu's layer-2 solution, Shibarium, achieved significant progress, surpassing 2 million blocks and nearly 150 million transactions. This development enhances the memecoin's competitiveness through lower fees and faster transactions. The primary goal of Shibarium is to elevate Shiba Inu above its rivals in the memecoin niche by reducing transaction fees and improving speed.