Shibarium, the layer-2 scaling solution for Shiba Inu, has seen increased activity, with daily transactions on the network reaching millions and total transactions hitting 500 million. The protocol aims to reduce transaction fees, improve speed, and enhance scalability for the Shiba Inu ecosystem. Shibarium has made several upgrades to optimize functionality, including a new user interface, quicker block processing times, and a burning mechanism called “Burn Portal” to reduce the supply of SHIB tokens.
Despite Shibarium’s progress, Shiba Inu’s price has dropped by approximately 17% today.
