Shibarium, Shiba Inu's Layer-2 Blockchain Solution, Sees Massive Increase in Daily Transactions

According to CryptoPotato, Shibarium, the layer-2 blockchain solution of Shiba Inu, has experienced a significant increase in daily transactions, indicating substantial network growth. On April 11, the daily transactions on Shibarium exceeded 200,000, marking a 4,000% increase compared to the previous day. Shibarium was launched last summer with the aim of enhancing the development of Shiba Inu, the second-largest meme coin, by improving transaction speed and reducing fees. Over the past few months, the network has achieved several milestones. The total number of blocks on the network surpassed 4 million, and the number of wallet addresses exceeded 1.4 million. The growth of the network could positively impact the price of Shiba Inu. Another factor that could influence the price is the SHIB burn rate, which saw a dramatic increase of 50,000% on April 11. More than 15.5 billion tokens were removed from circulation last month, a 2,300% increase compared to February. Several analysts, including Rekt Capital and JAKE, have recently predicted a potential bull run for the meme coin. Rekt Capital suggested a triple-digit increase if the token can overcome a significant resistance zone, while JAKE warned that underestimating SHIB could be a major mistake.