As reported by CryptoPotato, Shiba Inu's burn rate has surged, with millions of tokens being destroyed daily as part of a larger effort to reduce supply and increase value. Development of Shibarium is also advancing, aiming to improve speed, scalability, and transaction fees, which may have contributed to SHIB's recent price increase. Data shows that Shiba Inu's burn rate has surged by more than 4,000% in the past 24 hours, resulting in more than 81 million tokens being removed from circulation. The program has been very successful recently, with nearly 1.7 billion SHIB assets destroyed in April. Its ultimate goal is to reduce the huge supply of meme coins, making them more scarce and potentially more valuable in the future. SHIB's price has risen by 6% and more than 150% since May last year. The asset remains the second largest asset in meme coins, with a market capitalization of nearly $15 billion. Another factor that may have a positive impact on Shiba Inu's price recovery is the development of Shibarium, a second-layer scaling solution. The network aims to elevate the token above competitors in the meme coin space by increasing speed, enhancing scalability, and reducing transaction fees.