Shiba Inu, the second-largest meme coin, saw a remarkable increase in its burning rate during March. Statistics revealed that an astounding 15.5 billion assets were obliterated over the course of the month. The most significant surge occurred on March 8, witnessing the annihilation of nearly 14 billion SHIB tokens directed to a null address. This surge marks a staggering 2,300% rise compared to the burning figures witnessed in the previous month of February.

The primary objective behind the burning program is to diminish the circulating supply of SHIB, thereby rendering the asset scarcer and potentially increasing its value over time. Despite a minor correction registered on April 1, the price of the meme coin shines in a positive light when viewed on a monthly scale—a remarkable 40% surge, according to data from CoinGecko.

A pivotal factor that could augur well for SHIB’s value is the ongoing development of Shibarium, a layer-2 scaling solution. Despite a recent pause in its progress, the network has already surpassed several critical milestones. According to CryptoPotato, transactions on Shibarium have exceeded a staggering 400 million, with the number of wallet addresses teetering just below the 1.4 million mark. Introduced in August last year, this feature endeavors to slash transaction fees and enhance processing speed, thereby nourishing the growth of the Shiba Inu ecosystem. Individuals eager to delve deeper into Shibarium are encouraged to view the specialized video provided below for further insights.

In a prediction put forth by renowned cryptocurrency analyst Rekt Capital, Shiba Inu is poised to ascend to its previous all-time high price if it manages to overcome the significant resistance level of $0.000033285 in the near future. This forecast underscores the potential for SHIB's further upward trajectory and market evolution.