The Shiba Inu (SHIB) ecosystem witnessed a significant surge in activity recently, with the token’s burn rate soaring by an impressive 790% in just 24 hours. This jump is attributed to increased network engagement on Shibarium, the project’s Layer-2 solution, which has seen daily transactions increase from 1,850 to nearly 4,000 over recent days. New contract deployments have also quadrupled, further driving this growth. These developments come hand-in-hand with strategic burns involving major players and community participation, impacting the coin’s circulating supply and potentially influencing its price. 790% increase in burn rate is significant, though market volatility remains a key factor.