The post What’s Fueling The Shibarium Boost? appeared on BitcoinEthereumNews.com.

The SHIB community is once again surfing optimistic tides within the crypto realm with a staggering 12,000% uptick in the Shiba Inu burn rate and a key Shibarium milestone achieved lately. On Wednesday, April 2, burn statistics signaled that over 115 million coins were removed from the circulating supply, whereas transactions on the Layer 2 blockchain scaled new heights by topping 1 billion. In response, crypto market participants are now eyeing a highly bullish future for one of the most renowned dog-themed meme tokens amid bolstered market dynamics. Shiba Inu Burn Rate Soars Over 12,000%, Supply Takes A Blow Data from the official tracker Shibburn indicated that the SHIB burn rate surged 12,278.89% in the past 24 hours. Per the data, this massive surge rode the back of 115.89 million tokens removed from the supply in just a day. Source: Shibburn, X Notably, the burn mechanism permanently reduces the circulating supply by transferring tokens to a null address. As a response, traders and investors weigh bullishness on the asset’s future prospects by considering the law of supply and demand. With today’s massive burn saga, the total number of coins killed to date reached 410.72 trillion SHIB. Meanwhile, 584.35 trillion tokens still remain in circulation. Further, it’s worth mentioning that the wallet address “0xc439514852e132c” single-handedly burnt 92.64 million tokens, aiding the surge. The impact of the constant Shiba Inu burns has kept investors hopeful about a price rally ahead. On the other hand, the coin’s layer 2 blockchain, Shibarium, is making monumental strides. Shibarium Transaction Volume Hits 1B SHIB’s marketing lead Lucie further revealed on X that the transaction volume on the Layer 2 blockchain has crossed the 1 billion mark. This chronicle has added to the optimistic buzz orbiting the crypto as it underscores its network’s rising popularity. Soon after…

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Filed under: News - @ April 2, 2025 10:23 am