The recent rally in the price of #SHIB can be largely attributed to improvements in the burn mechanism of the meme token and the Shibarium layer-2 scaling solution. The burn rate increased by over 10,000% on June 4, indicating that approximately 370 million tokens were burned in the last month. This burn initiative aims to reduce the circulating supply of $SHIB , thereby potentially increasing its value as long as demand remains strong or increases.

#Shibarium also managed to process over five million total blocks as of the end of May. Introduced last summer, Shibarium aims to improve the #SHIB ecosystem by lowering transaction fees, increasing speed, and improving scalability. These developments are critical to driving sustainable growth and adoption across the network.