TL;DR

• Shibarium has burned $1.5M worth of SHIB and enabled low-cost transactions, boosting ecosystem development.
• Despite the protocol’s advancement, SHIB dropped 25% in two weeks amid an overall decline in the meme coin sector.

Shibarium’s Help

Shiba Inu’s layer-2 scaling solution officially saw the light of day in August last year. While its ultimate goal is to foster the development of the entire SHIB ecosystem, LUCIE (a prominent member of the meme coin’s team) recently shed more details on the matter.

They claimed that Shibarium has already “made a big impact” for Shiba Inu by destroying tokens worth over $1.5 million, thus “directly reducing the circulating supply and adding scarcity.” The protocol embraced the burning mechanism this summer.

LUCIE added that the L2 blockchain solution has enabled low-cost transactions, “allowing trades for pennies” and making the meme coin more accessible and practical for everyday use. Lastly, they claimed that Shibarium has built the foundation for future utilities, such as staking and governance systems, which could further strengthen the ecosystem.

“Most importantly, Shibarium has solidified $ SHIB’s reputation as one of the strongest assets in crypto. The recognition SHIB has received, even from Forbes, wasn’t achieved by social media hype, but through