The Shiba Inu (SHIB) community recently achieved a significant milestone by burning more than 1.25 billion SHIB tokens via the Community Burn Portal on the Shibarium layer-2 solution during the past week. Despite this large burn amount, the circulating supply remains close to half a quadrillion tokens.
The burn process has become more efficient with the latest Shibarium upgrade, which automates real-time token burns triggered by various on-chain activities such as swaps and liquidity actions. This change marks a transition from scheduled burns to continuous, seamless burning.
Additionally, the Shibarium team introduced a suite of new features enhancing the protocol's functionality. These include precision liquidity pools allowing providers to target specific zones, multi-source staking rewards for compounding income, and real-time on-chain burns eliminating the need for prior announcements.
The marketing lead, known as LUCIE, emphasized that this upgrade is a comprehensive overhaul of the system powering earnings, trading, and burning in the SHIB ecosystem. Practical tips were shared to help users maximize returns and remain adaptable to market conditions.
Shibarium was launched in August 2023 as a layer-2 blockchain solution designed to reduce costs, increase speed, and improve scalability for the SHIB ecosystem. While adoption initially fluctuated, recent data showed a resurgence in daily transactions to the millions.
Experts suggest that these protocol enhancements and improved burning efficiency could spark renewed interest and potentially fuel a rally in SHIB’s price, especially if application development on Shibarium expands further.