Taking the wind of Meme coin, Shiba Inu (SHIB) has set its sights on new peaks with increasing network activity.

The Shibarium blockchain, developed by the Shiba team and at the center of great expectations, has begun to break new records in network activity. In the statement made by the team on May 15, it was stated that the highly anticipated ShibaSwap was implemented on the Shibarium network.

With the latest integration, the increased number of transactions has led to an increase in the amount of SHIB burned, creating a positive impact on supply. Adding to these factors along with the ongoing meme coin headwind, SHIB price managed to witness a notable rise in a short period of time.

The developers emphasized that if the use of the Shibarium blockchain continues to increase, we will see a higher burn rate for SHIB and the supply will decrease rapidly:

Every transaction and every share on ShibaSwap feeds our ecosystem! Increasing trading volumes are bringing more fees for stakers and LP providers, making ShibaSwap the go-to hub for community tokens. Additionally, the more transactions are executed on the Shibarium blockchain, the more base transaction fees the protocol will spend, which will affect the overall burn rate of SHIB.

In addition, the new liquidity pool (LP) creation feature opened for users has added new excitement to the ecosystem. Data revealed that ShibaSwap held over $25 million in locked tokens as of Thursday, May 16. In addition, a transaction volume of $1.7 million was recorded in the last 24 hours.

According to CoinGecko data, SHIB, which has increased by 8% in the last 24 hours, is traded at $ 0.0000256 at the time of writing.