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DISCLAIMER: this article is strictly informational and is not intended to invite users to invest in cryptocurrencies. You must be aware of the risks of making investments and do so at your own risk.
In the last 24 hours, Shiba Inu has recorded an increase of 11.63%, currently trading at $0.00001339, at the time of writing this article, reflecting renewed investor interest and a surge in on-chain activity. In the past week, on-chain activity shows a 96% increase in whale transactions, while key EMAs have been surpassed, reinforcing near-term bullish momentum, according to technical analysis. The Shiba Inu ecosystem is driven by the growing adoption of Shibarium, which has surpassed 1 billion transactions and attracted 4,000% more users in the last month, consolidating its L2 layer as a pillar of growth.

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This significant burn activity led to a 340% increase in the burn rate, sparking hopes for a future rally ¹. The Shiba Inu community has been working together to reduce the number of coins in circulation, and their dedication is paying off.

*Recent Burn Details:*
- _Tokens Burned:_ 11,080,178 SHIB tokens
- _Burn Rate Increase:_ 340.27%
- _Transactions:_ 7 transactions, with the largest one burning 10,007,448 tokens
- _Total Burned:_ 410.7 trillion SHIB tokens removed from circulation, leaving 583 trillion remaining

The idea behind burning tokens is to increase the asset's value by creating scarcity as demand overtakes supply. This strategy seems to be working, as SHIB's price increased by 1.46% to $0.00001359, despite a 6.46% drop in trading volume to $127.3 million ¹ ².

*Shibarium Transactions:*
Activities on Shibarium, Shiba Inu's layer-2 blockchain solution, have declined over the last month, from 28,600 transactions on August 20 to 3,810. However, transactions on Shibarium directly impact SHIB token burn, as part of the gas fees paid in BONE go toward burning SHIB tokens ¹.
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SHIBARMY, we are on the verge of a transformative update for Shibarium. Through an upcoming fork expected to go live on May 2, we are introducing a set of new features designed to improve the user experience and empower our community of innovators and developers.
 
Consider a hard fork as a necessary upgrade to unlock next-level capabilities in our network. This is not just a technical change; it's about delivering new value and simplifying interaction with Shibarium.