Shiba Inu announced a major upgrade to its Shibarium developer hub, introducing enhanced infrastructure and development tools as the Layer 2 network experiences significant growth in activity and token burn rates. The upgrade coincides with Shibarium reaching 1.407 billion total transactions and a 360% weekly increase in SHIB token burns.
The updated developer hub includes comprehensive guides for running validator nodes and building applications directly on Shibarium, Ethereum’s Layer 2 scaling solution. Developers can now access detailed instructions for bridging assets from other blockchains and connecting applications to both ShibaSwap v1 and v2
New development tools include SDKs for decentralized applications, a Hardhat plugin, and expanded Alpha Layer support. Libraries such as ElderJS and Elder-Wrap are now fully documented to streamline smart contract development processes.
The upgrade introduces Shib Paymaster, enabling applications to cover users’ gas fees, and Bury 2.0, an enhanced staking system designed to improve reward distribution and user participation. Essential network data, including chain IDs and RPC URLs are now readily accessible for rapid application integration.
Shibarium maintains full Ethereum compatibility, allowing developers to deploy decentralized applications without modifying existing code bases. This compatibility reduces development barriers and accelerates ecosystem expansion.
Daily Shibarium transactions have consistently exceeded 3 million over the past week, contributing to the network’s 1.407 billion total transaction milestone. User account growth has accompanied the transaction surge, indicating expanding ecosystem adoption.
The increased network activity has driven significant SHIB token burns, with a 360% weekly increase totaling 135 million tokens removed from circulation, according to shibburn data. In the past 24 hours alone, burn rates jumped 2,742% with 6.3 million tokens burned.
But even with this, SHIB’s price has dropped nearly 2% over the same period. The token is currently trading around $0.00001360 and has fallen over 9% in the past seven days, according to CoinMarketCap.
The divergence between technical development progress and price performance reflects broader market conditions affecting meme tokens and smaller altcoins during current market consolidation periods.
