According to CryptoPotato, Shibarium, the layer-2 blockchain solution of Shiba Inu, has seen a significant increase in daily transactions, indicating a resurgence in activity. The network's accomplishments and an increase in token burn rate are viewed as potentially positive signs for Shiba Inu's future market performance. After several days of lower-than-average activity, Shibarium recorded a substantial resurgence. Data indicates that daily transactions on the network have exceeded 75,000, a 1,000% increase compared to the previous day's figure. Despite the recent surge, the numbers are still catching up with the boom seen at the beginning of March, when daily transactions on Shibarium were in the millions.
Shibarium was officially launched in August of last year and has achieved several milestones since then. Earlier this month, it was reported that the total blocks on the network surpassed the 4 million mark. The total number of transactions currently stands at over 413 million, while wallet addresses are just under 1.4 million. Shibarium aims to promote the advancement of Shiba Inu by reducing transaction fees, improving speed, and enhancing scalability.
Some believe that the further development of the L2 blockchain solution could trigger a bull run for Shiba Inu. Another factor could be the burn rate, which aims to reduce the maximum supply of 999,982,362,289,250 SHIB tokens, making them scarcer and potentially more valuable over time. Most recently, the burn rate increased by over 300%. The price of Shiba Inu, often referred to as the 'Dogecoin-killer', has seen a significant increase on a three-month scale, rising by almost 200%.
