$SHIB coin is witnessing an extraordinary rise in several indicators. One of the most prominent of these indicators is the burn rate, which jumped by 640% in 24 hours, reflecting bullish activity in the coin’s ecosystem. The price of $SHIB rose by 13% during the day to reach $0.0000168, the highest level it has seen in the past month.
The optimism around $SHIB came after the marketing team announced that it is working on a new stablecoin called SHI, which will be pegged at $0.01. The exact mechanism for achieving this peg has not yet been determined, but the team is working on developing the coin to enhance liquidity and stability in the Shibarium system.
In addition, the emergence of SHI is an important factor for Shibarium projects, as it will provide the necessary liquidity to support smart contracts and applications in this system. Shibarium is witnessing a significant increase in the number of transactions, which enhances expectations of its successful relaunch in the near future.
