CryptoPotato published an analysis article stating that Shiba Inu's second-layer expansion solution Shibarium continues to achieve impressive results. The network recently broke the 3 million mark in the number of blocks produced. Data from Shibariumscan shows that a new block is added every few seconds. Currently, the network has a total number of addresses of 1.3 million and a total transaction volume of more than 330 million.
Shibarium was launched in August 2023, much to the SHIB community's anticipation. However, this achievement had little impact on SHIB's price, which is currently trading at a slight discount to 24 hours ago, down 1.2%, in line with much of the cryptocurrency market. Regardless, such developments could have a positive impact on prices, provided the conditions are right.
The Shiba Inu team recently announced an update to its burning mechanism, which should now be fully automated. The more transactions are executed on Shibarium (and therefore, the more blocks are added), the more SHIB is burned. This leads to deflation, which is known to have a positive impact on the price of the remaining tokens.
