The Shiba Inu cremation mechanism and the second layer blockchain solution, Shibarium, have seen a major resurgence. The burn rate rose by 30,000 on March 2, while the total number of tokens destroyed throughout February was around 643 million. Total transactions on Shibarium have reached 400 million, with the number of wallet addresses on the network approaching 1.4 million and total blocks over 3.5 million.
Shibarium, which officially launched in August last year, is designed to enhance the Shiba Inu ecosystem by enhancing speed, lowering transaction fees and improving efficiency. SHIB price could react positively to these developments and reach new highs in the near future. It may also receive a boost from the upcoming Bitcoin halving, scheduled for April, and the general frenzy in the meme sector.
